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It’s Friday, and the S&P 500 is at risk of becoming what economists call a bear market — when stock prices fall for a prolonged time. But how bad is that, actually? We’ve got some context. Plus, the Law School Admissions Test may become optional, and our hosts share their thoughts on the strong dollar and a pizza musical. We end with a round of Half Full/Half Empty.

Here’s everything we talked about today:


“The S&P 500 narrowly averts a bear market. How long do they last once they arrive?” from MarketWatch
“No LSAT Required? Law School Admissions Tests Could Be Optional Under New Proposal” from The Wall Street Journal
“Archbishop: Pelosi will be denied communion over abortion” from AP News
“Tesla’s Removal From S&P Index Sparks Debate About ESG Ratings” from Bloomberg
“New York Now Has More Airbnb Listings Than Apartments for Rent” from Curbed
“What does a strong dollar mean for the U.S. and world economies?” from Marketplace
“In This Economy, Getting Fired Takes Hard Work” from The Wall Street Journal
“Dolly Parton Joins the Star-Studded Cast of Taco Bell’s Tik Tok Musical, ‘Mexican Pizza’” from Taste of Country

Tell us what you think about today’s show. Email us at makemesmart@marketplace.org or leave us a voice message at 508-827-6278, or 508-U-B-SMART.

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While the Federal Reserve is raising interest rates to cool down the U.S. economy, China’s central bank is taking the opposite approach to juice its slowing economy. Today, we’ll dig in. Plus, we wrestle with overstaffing at retailers and hear what the infant formula shortage teaches us about market concentration.

Teachers and other education workers are up against pandemic burnout, understaffed schools and wages that aren’t keeping up with inflation. As a result, a recent study has revealed that job satisfaction among those in the profession is at its lowest levels, forcing already-burdened teachers to leave at record rates. U.S. Treasury Secretary Janet Yellen called on other nations to combat global hunger before the G-7 meeting. Christopher Low joins us to discuss the morning’s market behavior.

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President Biden is in South Korea today, the first of a five-day Asia tour. His first stop? A Samsung computer chip factory. A similar one is to be built in Texas. The president is using his visit to the Samsung plant to push lawmakers here in the U.S. to provide billions of dollars in funding for domestic chip manufacturing. Big retailers are reporting that their loads of surplus inventory are cutting into their profits. We dive into the story of a lawsuit from the descendants of Henrietta Lacks, a Black woman whose cancer cells were taken without her consent and used in the creation of vaccines and other materials that led to billions in profits for pharmaceutical companies. The case explores a variety of ethical questions.

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From the BBC World Service: Canada says it will ban two of China’s biggest telecoms equipment makers, Huawei and ZTE, from working on its 5G phone networks. Also, the BBC visits the Ukrainian port city of Odessa to hear how grain exports are being blocked by Russia, and the Bank of England’s efforts to improve financial literacy, one Beanie Baby at a time.

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Thinking of buying an electric vehicle? Well, be prepared to wait in line. Demand for electric cars is so hot, companies like Volkswagen are sold out for the rest of the year. But, some see opportunity in another sector of the market: converting classic cars into electric vehicles. Marketplace’s Andy Uhler reports on companies doing just that.

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