Stocks flirt with bear market amid concerns

The stock market's slump this year briefly pulled the S&P 500 into what's known as a bear market Friday, before a late rally put the index in the green.

Rising interest rates, high inflation, and a slowdown in China's economy have caused investors to reconsider the prices they're willing to pay for a wide range of stocks.

A bear market is a Wall Street term for an index that's fallen 20% or more from a recent high. At Friday's close, the S&P 500 was down 18.7% from the record high set on Jan. 3.