Wall Street has plunged as investors took flight after consumer inflation in the US reached a 40-year high on Friday, with worries that aggressive interest rate rises could lead to a recession.Overnight the S&P 500 index lost 3.9 per cent, to 3,750, the Dow Jones index lost 2.8 per cent, to 30,517 and the Nasdaq Composite fell 4.7 per cent, to 10,809
The benchmark S&P 500 index closed down 3.9 per cent, to 3,750, after government data on Friday showed that annual inflation reached a 40-year high of 8.6 per cent. The Dow Jones index lost 2.8 per cent, to 30,517, and the Nasdaq Composite fell 4.7 per cent, to 10,809. When the Australian share market opens today, it is set to plunge, with the futures index — the ASX SPI 200 index — down 2.7 per cent, to 6,631, at 7:20am AEST.
Dear ABC News, What makes you think the average everyday Aussie gives a right royal root about whats going on in a foreign stock market? Except for the ~2,000 U.S. marines currently training in the Tiwi islands, though I think they've probably got their own news sources.
Imagine the buyer’s remorse in the US right now. Still, it’s a glimpse into what we have coming.
How is the building back better program going?
Gee didn't see that coming.