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The Claws of a Bear Market

The Daily

The New York Times

News, Daily News

4.597.8K Ratings

🗓️ 15 June 2022

⏱️ 22 minutes

🧾️ Download transcript

Summary

The meteoric rise of the U.S. stock market over the past two years has come to an abrupt end. A steep downturn recently has led to what’s known as a bear market. But what does that mean, and why might policymakers have to hurt the economy to help it in the long term? Guest: Jim Tankersley, a White House correspondent for The New York Times, with a focus on economic policy.

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0:00.0

From New York Times, I'm Michael Vavaro.

0:03.6

This is The Daily.

0:05.6

Today.

0:13.2

There are new fears of a recession after a miserable start to the week on Wall Street.

0:18.9

Stocks plunged Monday across the board.

0:21.4

Why the United States Stock Market has been plunging?

0:25.1

The economists are tossing around a term you don't hear every day, a bear market.

0:32.1

And what it reveals about growing fears that what's required to fix the economy will end

0:39.3

up pushing it into a recession.

0:42.8

I spoke with my colleague Jim Tancersley.

0:47.3

It's Wednesday, June 15th.

0:57.6

And we are solid in bear market territory.

1:06.8

So Jim, a bear market.

1:09.2

Why is it called a bear market?

1:11.5

I want to begin with some trivia.

1:13.2

Well, no one for sure knows, but there are some theories.

1:17.5

At least this is what reading up on it.

1:19.9

This is what I have learned.

1:21.2

The predominant theory is about the way animals attack.

1:24.8

When animals attack stock market version.

1:27.2

So the theory about when animals attack is that bulls, a bull market is a positive market

1:32.3

when stocks go up.

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