The S&P 500 on Monday entered bear territory which, to those unfamiliar with turns of phrase common to the financial industry, sounds like a group of people wandering haplessly into a countryside rife with vicious predators who will, without any warning whatsoever, emerge from the brush and rip their faces off if they wander too close to the bears’ stash of sweet, delicious honey that they’ve spent years carefully harvesting from the hives of angry bees on high branches.
As of 9:58 AM EDT on Monday the S&P 500 is down 104.14 points, or 2.05 percent, while the Dow Jones Industrial Average is down 1,300.81 points, or 3.40 percent, and the Nasdaq Composite is down 324.78 points, or 2.08 percent, as the self-inflicted bear mauling continues.