S&P 500 enters bear market

S&P 500 enters bear market

New York: The S&P 500 entered a bear market after the open on Tuesday, down over 20% from its 2011 high, as European officials considered making banks take bigger losses on Greek debt and fears of contagion in the world’s financial system grew.

The Dow Jones industrial average dropped 124.12 points, or 1.16%, to 10,531.18. The Standard & Poor’s 500 Index dropped 12.43 points, or 1.13%, to 1,086.80. The Nasdaq Composite Index dropped 18.61 points, or 0.80%, to 2,317.22.

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