Dow tumbles 600 points into bear market territory, sets a new low for the year

[MAGA MAN]

Dow tumbles 600 points into bear market territory, sets a new low for the year
Samantha Subin
Alex Harring

"Stocks tumbled on Friday to close out a brutal week for financial markets as surging interest rates and foreign currency turmoil heightened fears of a global recession.

The Dow Jones Industrial Average fell more than 700 points to fall below 30,000 to a new low for the year. The 30-stock index is fell 20% from its high, known as bear market territory on Wall Street. It was last trading 603 points lower, or 2%. The S&P 500 fell 2.2% and headed for a new 2022 closing low, while the Nasdaq Composite slid about 2%.

“The market has been transitioning clearly and quickly from worries over inflation to concerns over the aggressive Federal Reserve campaign,” said Quincy Krosby of LPL Financial. “You see bond yields rising to levels we haven’t seen in years — it’s changing the mindset to how does the Fed get to price stability without something breaking.”

The British pound hit a fresh more than three-decade low against the U.S. dollar after a new U.K. economic plan that included a slew of tax cuts rattled markets that are fearing inflation above all right now. Major European markets lost 2% on the day.

“This is a global macro mess that the market is trying to sort out,” Krosby said.

Friday marked the fourth negative session in a row for the major averages. The Fed on Wednesday enacted another super-sized rate hike of 75 basis points and indicated it would do another at its November meeting."
https://www.cnbc.com/2022/09/22/futu...sell-offs.html

Let's go Brandon!

[Earl]

Approximately 145 million Americans own stocks.

Perhaps it's time for PoliSquaker to post again:

Polltalker:

"Dive, market, DIVE!

Take DT down with you.


02-28-2020, 06:47 AM #5 | Top
PoliTalker


"Sometimes things have to get worse before they can get better.

We're going down.

BZZZZZT! BZZZZZT! BZZZZZT!

Dive! Dive! Dive!"

[Earl]

Price Hikes in August:

Fuel oil-68.8%

Gasoline-25.8%

Electricity-15.8%

Piped Gas-33%


Slow Joe Biden is harming hard working Americans and is driving America into the ground.

[zymurgy]

You alleged a stolen election for two months, but then chickened the fuck out and hid out here on JPP the one day you could have done something about it.

you have alleged to not be a barely functioning retard since June of 2018, but here we are.

[LV426]

you have alleged to not be a barely functioning retard since June of 2018, but here we are.

So to defend your pussy nature, you shit forth a bunch of crap from your big, fat fucking mouth that isn't new, inspired, or unique; just garbage you've stolen from other people while trying to pass it off as your own original thought.

So why did you hide out here on JPP on 1/6?

Didn't you believe the election was stolen?

Or were you just saying it was to try and make friends with Nazis since no one else wants to be your friend?

[archives]

Slow Joe Biden (Brandon) driving America into the ground...one day at a time.

First he was causing inflation, and then when steps are taking to curb inflation, he’s causing a Bear market, MAGA militia is never happy

And by the way, the devaluation of the British pound is what is largely responsible for the Market decreasing today, and I suppose Biden did that too