has shed more than $110 billion in value as investors eye the implication of Wall Street entering a "bear market".Biggest losers of the day came largely from the resources sector, including Fortescue Metals , James Hardie Industries and Bluescope Steel .It's currently the ASX200's worst loss since March 2020, following fears that the then-incoming COVID-19 pandemic would wreak huge damage to the world economy.
A bear market derives its name from the way a bear swipes downward with its claws, leaving marks that are synonyms with falling red lines on stock charts.Biggest losers of the day came largely from the resources sector, including Fortescue Metals , James Hardie Industries and Bluescope Steel .Overnight US stocks plunged as Wall Street investors grew increasingly nervous about the prospect of even harsher medicine from the Fed to take the sting out of inflation.
After raising rates by a half point in May — an action the Fed hadn't taken since 2000 — Chair Jerome Powell pledged more of the same until the central bank was satisfied that inflation was under control. At that point, the Fed would resume standard quarter-point hikes, he said.
Thanks liberals for nothing that is
good movie funny one
If values of companies are dropping, then something has to give if wages are going up.
WTF is going on!!!!!
Much more to come too. for long range forecasting
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Source: FinancialReview - 🏆 2. / 90 Read more »