Posted on 06/13/2022 5:39:53 AM PDT by John W
The S&P 500 is set to open in bear market territory on Monday, a 20 percent decline from January, a sign of growing pessimism about the outlook for the economy.
Markets around the world tumbled, as higher-than-expected inflation and lower-than-expected economic growth upend the outlook for interest rates and corporate profits. Stocks in Asia and Europe fell, investors dumped government bonds, oil prices slipped and cryptocurrencies crashed.
U.S. stock futures pointed to a steep decline at the open of trading, as a wave of selling continued. The S&P 500 briefly dipped into bear market territory last month, before recovering to close just above it. The markets have been jittery since, with the S&P 500 last week recording its worst weekly loss since January.
The benchmark U.S. stock index is now “within one bad day’s move of a bear market, and equity futures suggest that we haven’t seen all the negative sentiment expressed yet,” analysts at ING wrote in a note to investors on Monday morning. The S&P 500 has fallen in nine of the past 10 weeks.
(Excerpt) Read more at nytimes.com ...
This looks like we might fall into a hyperinflationary depression.
The S&P 500 is clinging to a key support level after Friday’s meltdown, here’s what happens if that fails
Our call of the day from RBC Capital’s head of equity strategy Lori Calvasina lays out just what could happen next, along with sectors that could shelter investors a bit.
If that May 19 low doesn’t hold and the index “breaks below 3,850 (the outer bound of growth scare territory, i.e., the 2011 and late-2018 drawdowns), we see potential downside in the S&P 500 to a little over 3,200,” she tells clients in a new note.
“That would represent a 32% drawdown in the S&P 500 from the early January 2022 high, which is in line with the average recession drawdown in the S&P 500 peak to trough since the 1930s,” said Calvasina.
As much as it may cause me pain, a collapsing stock market may motivate voters to kick Biden and his party to the curb before it’s too late to recover.
The Dow is also poised to fall below the level it was when His Fraudulency took office on Jan. 20, 2000 and which he used to brag about - 31,188. A complete mess in less than 18 months that all the excuse-making by the WH and the sycophantic press corps won’t fix.
Sorry, Pops Senile took office on Jan. 20, 2021, not 2000 - it just seems like it was 22 years ago.
#stockmarketcrash is trending on twitter
I put all my Roth into gold and silver mining stocks a couple of months ago.
Waiting for the New Great Depression...
Putin's fault of course./s
Waiting for the New Great Depression...
The NASDAQ alone has lost approximately 20% of value since the Feeb and his handlers took power on 20 Jan 2021.
LOL already in it!
This like Gas/Energy HURTS everyone (Reps/RINOs/Dems/Libs/Commie-Progressives) except Million/Billionaires!
If this doesn’t cause the total wipeout of the Dem/Commie party I don’t know what will as there is no way the resident can reverse course prior to the elections.
Brandon did this, really a shame.
He said the markets would crash if Biden was elected still winning.
Wealth destruction confirmed, especially if you have bitcoin.....
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