NEW YORK -U.S. stocks tumbled on Tuesday as concerns about the cost of infrastructure spending and potential tax hikes to pay for President Joe Biden’s $1.9 trillion relief bill weighed on investors who also fear further downside in the market.
“There’s a little bit of concern of getting out ahead of a potential selloff that could be on the horizon,” Meckler said. “Any feeling that it could be on the horizon is causing people to pull the trigger pretty quick on these down moves.” Falling yields on 10-year U.S. Treasury notes from a 14-month highs last week have deflated this year’s outperformance in the financial and energy sectors.
The benchmark S&P 500 and the blue-chip Dow have rallied about 80% from their pandemic lows of a year ago, while the tech-heavy Nasdaq more than doubled in value. Volume on U.S. exchanges was 12.10 billion shares, compared with the 14.04 billion average for the full session over the last 20 trading days.
I expect capitalists to fare better than ordinary people. Yes filthy rich benefit from infrastructure spending. They will as usual deliver lousy product & pocket most of the loot. Even after taxes. Politicians always fake their love for poor that is how they get elected again.
Uh-oh, the poors are getting stuff...
Billionaires make vast sums of money everytime there is a crisis while everyone else loses money. Time to tip the scales of the economy.
Lol rich people don’t want to pay a dime for roads. Nothing new here.
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