There's a 35% chance that the S&P 500 could fall into a bear market, Bank of America says

A Trader on the floor of the NYSE, March 11, 2022.
Source: NYSE

The S&P 500 has already tumbled into correction territory — down more than 10% from a record high set in early January — and there's a decent chance things could get worse from here, according to Bank of America.