The Dow Jones Industrial Average fell over 1,100 points, or 3.6%, while the Nasdaq Composite tumbled nearly 5% and the S&P 500 dropped 4%.Target shares tanked after disclosing rising costs will hurt profitability for the remainder of the year. This follows Walmart's lower-than-expected profit report Tuesday that was also blamed on inflation.
Federal Reserve Chairman Jerome Powell testifies during a hearing at the Hart Senate Office Building on September 28, 2021 in Washington, DC., Goldman Sachs lowered its year-end price projection for the S&P for the third consecutive time to 4,300 — which is actually a potential 8% upside to current levels, though down 10% from the start of the year. Goldman initially forecast that the S&P would close out the year at 5,100.
But the outlook is much bleaker if the economy is dragged into a recession this year: Goldman projected the S&P would fall close to 11% from the benchmark's current level, finishing the year around 3,600. That would mark a steep, 25% decline from the beginning of the year., rising interest rates and a darkening economic outlook continue to weigh on the market.
Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020.
Or anything else….she will be eaten alive every day. Need to start taking bets how long she will last
Not sure if White House keeps an eye on ANYTHING... at least what concerns most Americans!
Or anything else save how to stay in power. The most incompetent group in history
Ignorance
Because the stock market is not the economy. Only the very rich or the very foolish believe it is.
True, unlike his predecessor who thought the stock market WAS the whole economy.
They should keep an eye on the stock market!
At least Psaki was a decent liar, attempting to sound sincere! This woman hasn't a clue about anything she gets asked! 'Climate change!' 'gay black female immigrant!' 'racism!' From now on just put a tape recorder on the podium and hit continual play!
WH eyes are closed most of the time
Well no shit SHERLOCK