ANALYSIS-U.S. stocks' bear market growl could beckon recession

If history is a guide, the market's action may indicate a recession is in the wings. Nine of 12 bear markets that have occurred since 1948 have been accompanied by recessions.

NEW YORK: The bear market in U.S. stocks could be a prelude to even tougher times to come: a market swoon has often come hand-in-hand with recession.

Worries that a hawkish Federal Reserve will hurt U.S. growth as it attempts to tame inflation has helped drive the benchmark S&P 500 .SPX to a more than 20% decline from its all-time high on Jan 3, a drop that many analysts define as a bear market.