Monday was a bloodbath on Wall Street.
From CNN Business:
US stocks plunged into bear market territory Monday morning as Wall Street investors grew increasingly nervous about the prospect of even more harsh medicine from the Fed to take the sting out of inflation.
The Dow (INDU) sank 825 points, or 2.7%, and the Nasdaq fell 4.3%.
The broader S&P 500 fell 3.6%. That index is now more than 20% below its all-time high set in January, putting stocks in bear-market territory.
More from The Daily Wire:
Headlining the bad news in the United States is runaway inflation, which hit 8.6% last month for a fresh four-decade high. Even as wages nominally grew between May 2021 and May 2022, real wages dropped by 3% due to the faster rate of inflation. High energy prices continue to plague American consumers as prices at the pump reached a national average of $5 per gallon.
Last week on Wall Street was also marked by investors jettisoning their assets. The Dow had fallen 2.73%, the Nasdaq had dropped 3.52%, and the S&P 500 had fallen 2.91% by Friday afternoon.
...As the United States and other leading economies continued to face economic headwinds, the World Bank cut its 2022 global growth forecasts from 4.1% to 2.9% and warned of the "sharpest slowdown in 80 years."
Meanwhile, 47% of Americans say this economic situation is the direct fault of one Houseplant-In-Chief Joe Biden.
(The other 53% still aren't paying attention.)
And 94% of Americans are upset and concerned about the skyrocketing cost of everything required to, well, live.
The Great Depression 2.0 is gonna be lit 🔥
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