S&P 500 creeps closer to bear market | Fortress stocks with nice dividends | Why are fuel costs so high?

The broad-market index ended the day with a loss, bringing it closer to bear market territory.

VIEW IN BROWSER | SUBSCRIBE THU, MAY 19, 2022 EVENING BRIEF AS OF THU, MAY 19, 2022 • 05:14 ET DJIA 31253.13 -0.75% -236.94 S&P 500 3900.79 -0.58% -22.89 NASDAQ 11388.50 -0.26% -29.66 Most Active DOW NAME LAST CHG %CHG AAPL 137.35 -3.47 -2.46% CSCO 41.72 -6.64 -13.73% MSFT 253.14 -0.94 -0.37% S&P 500 NAME LAST CHG %CHG AMD 96.67 +0.39 +0.41% AAPL 137.35 -3.47 -2.46% CSCO 41.72 -6.64 -13.73% NASDAQ NAME LAST CHG %CHG AMD 96.67 +0.39 +0.41% AAPL 137.35 -3.47 -2.46% CSCO 41.72 -6.64 -13.73% EDITOR'S NOTE It was an unstable trading session on Wall Street as the S&P 500 inched closer to bear market territory.     The broad-market index dipped lower Thursday and teetered at 19% below its record reached in January. The Dow Jones Industrial Average also slipped the day after its worst drop since 2020. The tech-heavy Nasdaq Composite declined.     "The main takeaway for investors is to brace for extended volatility," said Greg Bassuk, CEO at AXS Investments. "We believe that volatility is going to be the investor narrative for the balance of Q2, and frankly, you know, for the balance of 2022."   A number of stocks in the S&P 500 hit new 52-week lows on Thursday, depicting how broad the sell-off has become. Target shares are trading at lows not seen since November 2020. Walmart shares are at their lowest point since July 2020. Shares of Bank of America and Charles Schwab dropped to their worst level since February 2021.   "The issue now is there really appears to be nowhere to hide," wrote Jonathan Krinsky, chief market technician at BTIG. On Wednesday, "they came for consumer names, but they still sold beaten down growth. In other words, money is rotating into cash instead of between different sectors." Sarah Min | Investing Reporter at CNBC Pro @_sarahmin Watch our live stream for all you need to know to invest smarter. TOP NEWS  S&P 500 falls again on Thursday, inching closer to bear market territory Rising fuel costs are a massive problem for business and consumers — Here's why they're so high U.S. Congress OKs $40 billion in aid for Ukraine; Russia says it's sent 900 Ukrainian soldiers to prison camp Existing home sales fell in April to the lowest level since the start of the pandemic Apple reportedly showed off its mixed reality headset to board of directors New bipartisan bill would force Google to break up its ad business Kohl's says final sale bids expected in coming weeks; retailer slashes full-year outlook after earnings miss Druckenmiller is betting against the wider market, while seeing value in energy stocks 'A dereliction of duty:' U.S. lawmakers grill FDA commissioner over baby formula shortage  These fortress stocks hold up the most during bear markets and pay a nice dividend TOP VIDEO Tight housing supply fuels higher prices as existing median home price rises nearly 15% annually CNBC PRO Bank of America warns stagflation scenario will tank stocks, says keep buying energy shares SPECIAL REPORTS Climbing interest rates mean good news for annuity buyers Hedge fund Melvin Capital returns cash to investors Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS