As stocks continue to slide, Wall Street nears bear market territory

It's been a tough year for American tech stocks, in particular. © FRANCE 24

Wall Street's benchmark S&P 500 index is on the cusp of what is known as a bear market, as it nears a 20 percent drop from its peak earlier this year. Investors are fretting over higher interest rates, rising energy prices linked to the war in Ukraine and a slowdown in China due to Covid-19. Also, Canada moves to ban Chinese tech giant Huawei from its 5G networks, and Sri Lanka grapples with a fuel shortage on top of a painful economic crisis.