Posted on 09/13/2022 2:31:46 PM PDT by Olog-hai
Stocks tumbled to their worst day in more than two years Tuesday, knocking the Dow Jones Industrial Average down more than 1,250 points, following Wall Street’s humbling realization that inflation is not slowing as much as hoped.
The S&P 500 sank 4.3%, its biggest drop since June 2020. The Dow fell 3.9% and the Nasdaq composite closed 5.2% lower. The sell-off ended a four-day winning streak for the major stock indexes and erased an early rally in European markets.
Bond prices also fell sharply, sending their yields higher, after a report showed inflation decelerated only to 8.3% in August, instead of the 8.1% economists expected.
The hotter-than-expected reading has traders bracing for the Federal Reserve to ultimately raise interest rates even higher than expected to combat inflation, with all the risks for the economy that entails. Fears about higher rates sent prices dropping for everything from gold to cryptocurrencies to crude oil. …
(Excerpt) Read more at apnews.com ...
This is not good. Not good at all.
Elsewhere today, the U.S. government reported inflation remains stubbornly high and out-of-control, currently measured at 8.3%.
If it weren't so sad and awful, it would be funny: Senile Sleepy Joe celebrating his "Inflation Reduction Act" (which will likely make inflation even worse) while the actual U.S. government is simultaneously reporting inflation remains very high and out-of-control.
Let's go, Brandon.
Of course it's all Trump's fault. Sky-high inflation never would have happened if Trump hadn't "sold all our most classified nuclear secrets to Russia." (When will Republicans, libertarians, and conservatives finally get it?!?)
And Russia never would have attacked Ukraine if Trump hadn't led his "January 6" supporters into attacking the Capitol, American democracy, and freedom.
And Hillary would still be President today if Trump hadn't gotten Covid ..........
...... or whatever other totally ridiculous nonsense the insane socialist/communist Democrats/RINOs are claiming ......
YEP!
Just hold on a bit when the Inflation Reduction Act kicks in! Democrats saved the day! Vote in even more Democrats!
—
Maybe Joe accidentally signed the 401K Reduction Act instead.
The FED will raise interest rates next week.
Will that cause the stock market to drop again?
The FED will raise interest rates next week.
Will that cause the stock market to drop again?
—
That knowledge is probably already “baked into the cake”. But who knows. The prediction is for a 75 basic point hike. Don’t know if they’d go for 100; a full percentage point.
Dashed ? MAGA aint falling for this bullshit !
Markets shudder on dashed inflation hopes; Dow falls 1,250
Associated Press ^ | September 13, 2022 | Stan Choe and Alex Veiga
Posted on 9/13/2022, 2:31:46 PM by Olog-hai
Stocks tumbled to their worst day in more than two years Tuesday, knocking the Dow Jones Industrial Average down more than 1,250 points, following Wall Street’s humbling realization that inflation is not slowing as much as hoped.
The S&P 500 sank 4.3%, its biggest drop since June 2020. The Dow fell 3.9% and the Nasdaq composite closed 5.2% lower. The sell-off ended a four-day winning streak for the major stock indexes and erased an early rally in European markets.
Bond prices also fell sharply, sending their yields higher, after a report showed inflation decelerated only to 8.3% in August, instead of the 8.1% economists expected.
The hotter-than-expected reading has traders bracing for the Federal Reserve to ultimately raise interest rates even higher than expected to combat inflation, with all the risks for the economy that entails. Fears about higher rates sent prices dropping for everything from gold to cryptocurrencies to crude oil. …
(Excerpt) Read more at apnews.com ...
The good news is there will not be a rate hike again until early November so 6 weeks for stocks to go back up hopefully.
The Fed meets Sept 20/21 and the Nov 2.
The people who know what they are doing sold yesterday.
I wonder if suburban women are paying attention to what Biden is doing to their 401ks.
Clearly. Everything is Trump’s fault. So say Biden and his media.
the one that just came into my office uttering a string of expletives over it did. But then she’s already MAGA, so I just told her I feel your pain
That looks familiar.
As long as they can kill their children on demand they are A-OK with Dementia Joe.
Posted on 9/13/2022, 2:31:46 PM by Olog-hai
You have a point?
I did; watching the AP agonize so much about having to write this was the point.
Yup. Shuffle more taxpayer maoney to Democrats supporters....time is running out.
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