Money S&P 500, Dow and Nasdaq drop on recession fear, mortgage rates rise. June 16, 2022June 16, 2022Medora Lee, USA TODAYComments Off on S&P 500, Dow and Nasdaq drop on recession fear, mortgage rates rise. U.S. stocks slid after a handful of banks around the world followed the Fed and raised rates to fight inflation. The rate hikes fed recession fears.