U.S. stocks extended their decline Monday and the Dow Jones Industrial Average slid into a bear market, reflecting investor concern about the pace of global growth and the price of central-bank efforts to slow inflation.

The Dow’s decline of 329.60 points, or 1.1%, to 29260.81, marked its fifth down trading day in a row. The move put the Dow into its first bear market—defined in Wall Street parlance as a drop of 20% or more from a recent high—since the early days of the pandemic.

U.S. stocks extended their decline Monday and the Dow Jones Industrial Average slid into a bear market, reflecting investor concern about the pace of global growth and the price of central-bank efforts to slow inflation.

The Dow’s decline of 329.60 points, or 1.1%, to 29260.81, marked its fifth down trading day in a row. The move put the Dow into its first bear market—defined in Wall Street parlance as a drop of 20% or more from a recent high—since the early days of the pandemic.