WEB Notes: How many of you recall headlines like this from the last economic collapse? We had wild swings like this on a daily basis for quite a while. The other day the market went up over 500 points. It has swung back and forth a few times now. This is showing us there is a lot of instability in the market right now. Add this to…
The other headlines concerning inflation and a housing market that is stocked full of houses with no buyers and we find recipes for disaster, manufactured disaster brought about by rising interest rates.
Remember, those rates were artificially lowered in order to stop the last crisis and nothing changed since that time. So no one should be surprised that higher rates mean economic calamity is approaching.
The Dow Jones Industrial Average fell 602 points on Monday after a big decline in Apple shares, a rise in the U.S. dollar and lingering worries about global trade weighed on investor sentiment.
Monday’s losses bring the Dow’s decline over the past two sessions to 804 points; it closed at 25,387.18. The tech-heavy Nasdaq Composite pulled back 2.8 percent to 7,200.87 and fell back into the correction territory it first entered during the October market rout.
The S&P 500 dropped 2 percent to 2,726.22 as financials tanked, led by Goldman Sachs.