On Monday, the Dow Jones Industrial Average crossed into bear market territory, touching an intraday low of 29,161 -- 20% below the high it hit in late December. To put this event in context, the last time the Dow experienced a bona fide bear decline, the world was early in the throes of the COVID-19 pandemic. Across the much broader S&P 500 index, which tracks 500 of the biggest U.S. companies, the average price-to-earnings ratio currently is 18.4 -- a level that index last saw in 2014.
(Bloomberg) -- Apple Inc. shares buckled after a rare analyst downgrade exacerbated another wave of selling pressure that wiped out hundreds of billions of dollars in market value from the largest US technology stocks.Most Read from BloombergMacKenzie Scott Files for Divorce From Science Teacher HusbandMeta to Cut Headcount for First Time, Slash Budgets Across TeamsTop Apple Executive Is Leaving After Making Crude Remarks in TikTok VideoStocks Plummet to 22-Month Low as Fed Hawks Circle: Markets
Today's Research Daily features new research reports on 16 major stocks, including Berkshire Hathaway Inc. (BRK.B), Exxon Mobil Corporation (XOM) and Walmart Inc. (WMT).