The New York Stock Exchange on Wednesday, June 29, 2022 in New York. Americans with stock portfolios or retirement investment plans would likely prefer to forget the last six months. The S&P 500, Wall Street’s broad benchmark for many stock funds, slumped TK% through the end of June after starting the year at an all-time high. It’s the worst start to a year for stocks in decades.
Investors have been grappling with uncertainty and fear this year following a sharp rise in interest rates as the Federal Reserve and other central banks scrambled to Rising bond yields have made these stocks look overpriced relative to less-risky corners of the market, such as utilities, household goods makers and health care firms. These are often called “value” stocks to distinguish them from stocks of high-growth companies.
Meanwhile, refineries have less ability to turn oil into gasoline in the U.S. after several shut down during the pandemic. U.S. refining capacity has dropped for two straight years, according to the U.S. Energy Information Administration. This year’s losses are entirely the result of high inflation and the Fed’s response to it. Inflation is generally anathema to investors because it erodes the purchasing value of the fixed payments bonds will make in the future.
So, the last time the S&P did this badly a Republican was president. Hmmm ... obviously voting Red guarantees nothing. And anyone who invested in crypto was just asking to get screwed!
Biden’s economy 🤗
I'm pretty happy the crypto spam on the TL has stopped. Them boys is gone.
BidenDestroysAmerica