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 ...
Oh dear. Probably Trump’s fault.
My bet is Biden and his communist crew, try to get another spending bill done before the mid-terms.
Yes, definitely all Trump’s fault.
Just hold on a bit when the Inflation Reduction Act kicks in! Democrats saved the day! Vote in even more Democrats!
“dashed inflation hopes”????
Who are the idiots who “hoped” inflation would somehow magically go down in any real or meaningful way, and ended up with “dashed inflation hopes”?
AP? CNN? The Biden White House? Any Leftist economist?
When the numbers were released this morning the AP was touting the fall in inflation. That story didn’t age well.
ouch
But how many people only read that AP story and nothing that came out afterwards?
These people know what they're doing.
“The American people won”
I can’t much more winning.
Biden throws a party at the White House for a thousand people while the stock market burns. Joe is the American Nero.
It’s called Joementum or something.
Economists are “surprised,” “stunned,” “shocked.”
Only what Stan Choe and Alex Veiga and All Propaganda hoped, not based on actual reality but on delusion. The liars believe their own lies.
Anyone with half a brain knows Biden's lies do not reverse inflation.
Well, Yellen probably is, that much is for sure!
Dow Jones 9/13/2022 04:00pm: 31,104.97
Way to go Brandon
And they’ve crippled the bond funds and other interest-generating sources of income.
If people think this is bad, wait until the depletion of the strategic oil reserve stops and oil prices rebound.
I don’t believe draining the oil reserves had anything to do with the slight decrease in gas prices.
But as sure as God made little green apples, this was just part of the long term plan to make energy more expensive. Heck, they TOLD us they were going to do that.
I feel my blood pressure spike when I hear a random person saying enthusiastically “I just saw gasoline at $4.85 a gallon!”
You are correct...it is going to go up again. This is an interlude to help get us used to it so we will feel grateful when it goes down by .03 cents after going up by .50 cents.
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