including as punishment in a psych ward full of criminals. so i was too worried about, you know, who was in the cell with me to actually sleep. you thought they might kill you? yeah, i thought that was a possibility. more from my exclusive interview with trevor reed, the u.s. marine veteran who is finally thankfully home. welcome to the lead. i m jake tapper. we start with our money lead and renewed fears of an economic recession as the markets closed moments ago. the dow finishing flat after a day mostly in the red. what s sounding alarm bells now is this is the eighth straight week of losses for the dow. that s the longest weekly losing streak since 1923. the s&p 500 and nasdaq also taking hits fueled by investors getting increasingly spooked about how high inflation is, messing with the u.s. economy. matt egan is live in new york for us. viewers are likely to see the words bull and bear market tossed around a lot. what does this mean in terms oour money, our sa
words bull and bear market tossed around a lot. what does this mean in terms oour money, our savings? the fear factor on wall street remains very high. the s&p 500 nearly closed in a bear market today. it was only a late day rally that lifted it out of that territory. a bear market is a big deal because it means a 20% decline from previous highs, and bear markets often coincide with recessions, although not always. there are false alarms along the way. but for what it really means for our money, it means our nest eggs after two years, our nest eggs are getting smaller again. 401(k) plans, college saving plans, investment portfolios, all taking a hit, and that creates real anxiety for families. it also means that the level of concern about a recession on wall street, jake, is getting higher. what are you hearing from economists about a possible recession? it s really important to remember, there are a lot of positives in the economy right now. consumers are spending money. compani
that because her family wants to spend a lot of private time with her to catch up for that past four years. brooke? sandy, thank you very much. let s go to alison kosik at the new york stock exchange. we re 60 minutes away from the closing bell. how did today fair? that s right. it s just another rough day. we ve got another hour to go before the closing bell sounds. stocks have been stuck in the red for most of the day. we saw them trim their losses after comments from fed chief ben bernanke. saying growth will be in the second half of the year. problem is, the second half of the year is right now. what we re seeing is worries about greece defaulting continue. you re seeing that worry play out in the numbers today. brooke? we also speaking of the red, we saw the s&p 500 dip into the bear market today. what does that mean? it continues to be trading in bear market territory. it represents the same downturn for the market and the s&p 500 is really knee-deep in th