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Oppenheimer reduced its target for the benchmark index to 5,950 from 7,100 target, while BofA reduced to 5,600 from 6,666, making it one of the lowest on Wall Street. The S&P 500 index slumped further on Monday and was down more than 20% from its all-time high, putting the benchmark index on track to confirm a bear market.

Mesa Air Group shares soared Monday morning on news the carrier had agreed to merge with fellow regional carrier Republic Airways in an all-stock transaction.

(Bloomberg) -- Chinese shares plunged and sovereign yields neared an all-time low as investors braced themselves for the fall-out from a spiraling trade conflict between the world’s two largest economies.Most Read from BloombergHousing Agency Aims to Relocate Its DC HeadquartersBoston Mayor Wu Embraces Trump Resistance as Campaign Heats UpThis Skinny Mexico City Tower Is Just 14 Feet Wide on One SideThe Irish Hot Press Is the Low-Tech Laundry Trick the World NeedsWhat Would ‘Transportation Abund

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Reddit initiated, Roku upgraded: Wall Street's top analyst calls

The markets and President Trump are piling more pressure on the Fed to consider near-term rate cuts as the tariff turmoil deepens.

While the S&P 500 includes industry leaders, not every stock in the index is a winner. Some companies are past their prime, weighed down by poor execution, weak financials, or structural headwinds.