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US stocks plunge into bear market as S&P 500 and Dow Jones sink

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S&P 500 plummets to new low for the year while Dow Jones closes down 875 points, as US investors fret about possible recession

, which is scrambling to get inflation under control. Its main method is to raise interest rates in order to slow the economy, a blunt tool that risks a recession if used too aggressively.on Monday that the latest inflation news could lead the Fed to raise its short-term interest rate by three-quarters of a percentage point. That’s triple the usual amount and something the Fed hasn’t done since 1994.

 

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Biden’s S&P 500 and Dow Jones

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S&P 500 sinks into bear-market territory as recession fears pound US stocksBear market – a plummet of 20% or more – comes as investors fret about high inflation and possibility of further rate increases How low will the US stock markets go? How about the global markets? Should we blame Putin’s war? Inflation? Excessive Covid lockdowns? The US Fed? Congress? Excessive spending? Biden? How did so many smart folks get inflation so wrong?
Source: The Guardian - 🏆 84. / 53 Read more »