Even the stock market is down under Joe Biden. For the past 8 years, the stock market shot up, but under Biden, it not only didn’t gain anything, it lost. It is a dramatic loss, one that includes a nine-week losing stretch, which only happened in history nearly a century ago.
The markets show the Dow is down more than 4,700 points since the beginning of the year. At this time last year, the Dow was at 34,466.24. Today, after closing down 880 points, it’s at 32,272.79.
This is the retirement of millions of middle-class Americans, even as inflation eats away at their incomes.
The volatility will continue as the uncertainty continues and recession hits. Larry Kudlow says that the Feds have to raise interest rates at least 1% and continue to do it each month. If we are talking about a century ago, we could be talking about a depression.
As interest rates increase, the recession grows closer.
The U.S. stock exchanges are succumbing to a bear market. A bear market is generally considered to occur when an index or an asset’s price has declined more than 20% from a recent high. The markets are right there.
Meanwhile, the Dow Jones Industrial Average (DJIA) snapped an eight-week losing stretch last week, its longest downdraft in nearly a century, Forbes Advisor reported on June 2nd. Since then, it’s gone down.
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