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Wall Street finishes its worst week since
the 2020 pandemic crash as S&P, Dow and
Nasdaq all slump in market shudder at
Fed's rate hike

Original Article

Posted By: Imright, 6/17/2022 11:13:25 PM

Wall Street has closed out its worst week since the COVID-19 pandemic crashed markets in 2020, despite a modest bounce on Friday. For the week, the Dow Jones Industrial average was down 1,504 points, or 4.8 percent. The S&P 500 lost 5.8 percent and the Nasdaq dropped 4.8 percent. It marks the S&P's worst week since March 2020, when stocks were in free-fall as the global economy suddenly shut down at the onset of the pandemic. Markets around the world have been shuddering as investors adjust to the bitter medicine of higher interest rates, after the Federal Reserved jacked up its policy rate by 75 basis points to fight soaring inflation.

Comments:

* Keith Griffith & Staff

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Reply 1 - Posted by: mifla 6/18/2022 3:26:51 AM (No. 1189408)
Biden doesn't care. He, like many other "public servants", have made milions while in office.
11 people like this.

Reply 2 - Posted by: lakerman1 6/18/2022 7:07:22 AM (No. 1189483)
Many, if not most of members of Congress (and their relatives) are shorting the market, I would bet. And Dementia Jo and his crime family are likely taking their bribes in precious metals and diamonds.
7 people like this.

Reply 3 - Posted by: stablemoney 6/18/2022 9:57:05 AM (No. 1189649)
It is going to get a whole lot worse. More interest rate increases are coming, and the Federal Reserve is not rolling over $50 billion a month of maturing debt. We are in a deep recession. Biden will print more money to keep the GDP inflated with useless government spending, but that is not a real economy. This is the honest truth: American's can expect a 25%-40% decline in their standard of living. The free stuff was not free, and the bills are being paid by the decline in the value of everything you own, including cash and salaries.
2 people like this.

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