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Stock market will tank in stagflation scenario, Bank of America warns

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The S&P 500 has gotten obliterated in a widespread sell-off this month, and the benchmark index is likely to drop even lower if the economy experiences a return to 1970s-style stagflation, according to Bank of America analysts.

So far this year, the benchmark index has been down for seven consecutive weeks, its worst stretch since the dot-com bubble burst in 2001. Subramanian has warned that investors should be wary as "recession risks are taking over," and noted that current market conditions are reminiscent of the dot-com bubble."In our 2022 year ahead report, one reason we were cautious was the array of similarities to 1999/2000, one of which was the acceptance of the unthinkable," she wrote.

Economic growth in the U.S. is already slowing. The Bureau of Labor Statistics reported earlier this month that gross domestic product unexpectedly shrank in the first quarter of the year, marking the worst performance since the spring of 2020, when the economy was still deep in the throes of the COVID-induced recession.

 

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The Fed will now raise interest rates...😁

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More suffering every day

Biden's answer is spend trillions and print more money... We in trouble!

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