The Wider World

S&P 500 drops by 3.9%

WALL STREET was worried on Monday (Flickr/Dan Nelson).

The bears ran wild on Wall Street on Monday, as the major stock indexes plunged on fears of a possible recession.

According to The New York Times, the highly-watched S&P 500 fell by 3.9 percent, a decline of almost 22 percent from its high point in January 2022.

A report on Friday that inflation had risen by 8.6 percent  in May stoked fears that consumers might cut back on purchasing as a way of coping with rising living costs.

In an effort bring inflation down, the Federal Reserve is expected to hike interest rates more sharply than it has in recent years.

But some economists fear that if interest rates are increased too much it will damage the economy which is – aside from rising costs – performing relatively well, with a 3.6 percent jobless rate.

Gun-toting teachers in Ohio?

A bill was signed into law Monday by Ohio Gov. Mike DeWine that allows school districts to arm teachers as early as this fall.

According to The Associated Press, the law will require gun-carrying educators to take 24 hours of training and undergo eight hours of annual instruction.

Also announced Monday was $100 million for school security improvements and $5 million for colleges.

Sports: Idle locals watched scores

Both the Los Angeles Angels and Los Angeles Dodgers have the day off today (Monday) before they meet on Tuesday. But fans and players of both will be keeping an eye on other games. The

Dodgers lead San Diego by a half-game in the National League West, the Padres’ game against the Chicago Cubs is of interest. The Padres won 4-1 and moved into a virtual tie for first, trailing only by a few percentage points.

The Angels are a half-game behind second place Texas and a game head of fourth place Seattle.  The Rangers defeated Houston and now have a full game edge on the Halos. The Twins beat the Mariners 3-2 and kept the M’s from catching the Angels.

• In the NBA Finals, the Golden State Warriors defeated the Boston Celtics 104-94 on Monday to take a 3-2 lead in the series. Game Six will be on Thursday in Boston.

Weather: It’s been a slow-moving sun

The summer sun is taking its time coming to West Orange County; there were even some sprinkles Monday morning. But the weather forecasters claim that Tuesday will be the last day of clouds, and that the sun will arrive on Wednesday and stay for a couple of weeks at least. The predicted daytime high for Tuesday is 79, with an overnight low of 62.

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