Dow plunges to its lowest level since 2020 to end another dismal week | CNN Business

Investors are increasingly concerned that a recession could be around the corner. One analyst says Americans should be cautious, but shouldn't panic.

The Dow\n \n closed 483 points, or 1.6%, lower in Friday trading, marking its lowest level since November 2020. The S&P 500\n \n and the Nasdaq\n \n Composite were down 1.7% and 1.8%, respectively. The Dow fell by more than 800 points at one point, falling more than 20% from its record close of 36,799.65 set on January 4, and entering bear territory. The S&P 500 remains in bear territory.

Investors don’t have many places to make money at the moment: In addition to sinking stocks, the bond market is also selling off, sending US Treasury yields soaring to 11-year highs in recent days. The 10-year yield fell back a bit Friday but remains near 3.7%, and the 2-year yield is above 4.1%. That’s a much better return than you can get with stocks these days, so high bond yields are adding pressure on the stock market.

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