Stock markets drop as Wall Street takes a gloomy view of the economy

  • 📰 NPR
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

Finance Finance Headlines News

Finance Finance Latest News,Finance Finance Headlines

JUST IN: The Dow dropped more than 650 points, falling to its lowest level in nearly two years, as investors come to terms with the economy's gloomy future.

Traders work on the floor of the New York Stock Exchange on September 21, 2022 in New York City. Stocks dropped in the final hour of trading after Federal Reserve Chairman Jerome Powell announced that the Federal Reserve will raise interest rates by three-quarters of a percentage point in an attempt to continue to tame inflation.Traders work on the floor of the New York Stock Exchange on September 21, 2022 in New York City.

Stock markets, as well as those for bonds and commodities, have been digesting the Federal Reserve's announcement this week that it will continue to raise interest rates until zooming inflation is contained, regardless of the risks of a recession. Already this year the Fed has hiked rates at a speed and magnitude not seen for a generation, in the hopes of slowing down the worst inflation the country has experienced in 40 years.

" No one knows whether this process will lead to a recession or if so, how significant that recession would be," Powell said at a press conference after the Fed announced it was raising interest rates by 0.75% for the third time in a row.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Thanks, Pedo Peter JoeBiden

Thanks FED for not being able to curb your enthusiasm.

That transitory inflation still acting a fool. Derp.

These companies are making record profits by price gouging. The Fed is doing the only thing it can do to ease inflation, and that’s raise interest rates. We need a windfall profits tax to discourage price gouging.

Glad the nation went with a 401k plan instead of pension plan

We are all paying for the covid stimulus 'relief' checks...

Don’t worry, rich people will stay rich.

Note it was this bad two years ago

Ray of sunshine, you are.

Maybe they can start spending money on people who actually need it.

Vote Republican if you want to be able to have a healthy economy.

Welcome to humility & despair via the Biden admin plans. He never mentions how much people across all classes are losing in this market but when it comes to tax & spend he is all ears.

Stop spreading lies this is right wing propaganda lol

Sooo megacorps make record profits for investors & continue to ⬆️ prices. CAUSING INFLATION. Then bc of recession fears they created, stocks ⬇️ So investors are now 'scared' of the problems they are helping cause? But that's not all…

How is it that everyone and their pet rocks saw this coming while the administration just kept telling us it wasn’t?

The housing market is tanking. Only those with large down payments are still buying. The interest is great for retirement savings but the stock market is about to become a blood bath

Still better than the 1000 pt drops during previous admin, of course…. But who’s counting?

Keep voting democrats for more of this.

Yeah Joe Biden and his clown VP are destroying this country. But at least mean tweet have stopped

Great work democrats! Really, where would the county be without all of your fine work!

Don't worry Democrats Pelosi got you fortified

Today sucked. But at least I'm still rich.

Look to conservatives in England for part of the reason. Dangerous tax cuts and borrowing. Don’t vote Republican.

Wall Street isn't a measure of the economy.

DrSt00f And then next week it’ll jump 860 points and we keep going back and forth on this every week. We’ve been told weekly for the last 2-3 years that the market was crashing any second.

Thoughts and prayers to the investors. 🙄

Profit taking before the interest rates impact borrowing.

You mean the economic future that any person with half a brain and common sense has been saying will happen for several years now, due to the government printing money out of thin air whilst shuttering businesses?!

The stock market isn’t the economy!!!!

Biden has to go!!! He is terrible!

Good ,,..time to 'trickle up' for a change

Thank a democrat voter

No evidence to support that, . Investors are unhappy with Fed, most likely. No one 'knows' what the economy's future looks like, certainly not .

Biden raised rates yesterday too. Democrats are in the mud big time.

Doing a story on a stock market crash without mentioning Biden, is like doing a story on the Titanic and never mentioning an iceberg.

The stock market is not the economy and you shouldn’t be so stupid about it.

The stock market is a barometer for wealthy people, not the overall economy.

A gloomy view of the economy? More people are back to work than ever before, with better wages. But Wall Street doesn’t use that as a measure of the economy anymore. Main Street just doesn’t matter to them.

Few years ago corporations were using the GOP tax break to buy back their own stock under the guise of hiring more people. Those people never got jobs and the market grew into the bubble it is today. It's time for a correction.

Printing and spending trillions has brought us inflation. The fed has to raise rates to combat inflation. Higher rates are going to slow the economy. Stocks tumble. It is all self-inflicted (by our gov.) pain.

The stock market is NOT the economy. I hope stocks keep falling, it's hilarious to watch rich people squirm.

Behold your king in all his majesty, splendor, and trunalimunumaprzure.

Thanks Biden!

cant' be I was assured by the POTUS and the PressSec that this is the greatest economic recovery in history.

58% of Americans own stock of some kind...but 1% of Americans own 53% of the stock market. Less than 25% of Americans are debt free. This all happened because Republicans suppressed the national minimum wage since 1980. Working American's Debt grew over that time.

Maybe the economy wouldn’t have a gloomy future if corporations payed workers enough to keep the economy running.

As long as we allow corporations to rake in record profits and blame it on inflation, it's going to stay gloomy. Try capping how much execs and shareholders can pay themselves and guarantee working Americans can live on what they earn.

“the economy’s gloomy future” 🧐

For today!

There's really nothing gloomy about the economy, they are just overreacting to the fed rate hike. Very little movement in the stock market of late is due to real, evidence-based trends - it is all overreaction and mood swings based on hunches and incomplete data.

Sweet

The future is not gloomy! The economy is 🔥

They take a gloomy view of the free money disappearing that they been getting for a decade.

Hey Joe Biden you moved the market down 20% in less than two years. But no mean tweets so everything good I guess.

They should try more lies.

Perfect, my Ira is worth half of what it was under Trump.

It's not so gloomy if you've invested in solar stocks.

Waiting for kairyssdal to chime in and remind you that the economy is not the stock market and the stock market isn't the economy.

Every year for the past 25 years Wall St. bankers have sold us out in this moment. So yes the economy is failing and they hold the profits.

Thanks a lot pedo Peter

Truth is, they want the economy to tank so GOP will control Congress and keep low taxes on wealthy!

They will buy it back as soon as some good news come in.

Sweet. Discounts!

Oh no! Their precious economy! No!

WTF happened to NPR?

So the fed went and raised interest rates too high and probably unnecessarily created a recession that will cost jobs 60-something days before the election. Smart.

This is Biden's America

It needs to drop even more the market is way over valued as a whole especially tech, gaming/casinos & utilities.

It is a good time to buy some more Tesla stock!

But Beijing Biden said our economy is strong

Just wait until Long COVID disables a good percentage of the working population!

Been heading there for 6 years.

'The best economy in years'

The end of artificially low interests rates is taking the air out of the stock baloon.

Npr. You are becoming a hack version of what you used to be. New ownership is obvious and sad.

Letsgobrandon !

We're in a recession and have been whether Brandon likes it or not.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 96. in FİNANCE

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Dow drops over 500 points as stocks end sharply lower after Fed rate hikeStocks took a sharp turn lower to end a choppy session Wednesday, sinking after the Federal Reserve delivered a widely expected 75 basis point rate hike. The Dow Jones Industrial Average dropped around 522 points, or 1.7%, to end near 30,184: if im correct this may be the first time the market has fallen immediately after a rate hike rather than the day after.
Source: MarketWatch - 🏆 3. / 97 Read more »

Stock Market News Today: Dow Falls 500 Points as Indexes Drop FridayThe Dow fell to its lowest level of the year, extending a selloff amid new signs of slowing global growth Build back better lol redsteeze Trump leaves office with U.S. major benchmarks near all-time highs. But how did his performance stack up with his predecessors? Not too bad, according to major indexes.
Source: WSJ - 🏆 98. / 63 Read more »

Dow tumbles 700 points into bear market territory, sets a new low for the yearStocks fell Friday morning as investors continued responding to the Fed's decision. Dark Brandon strikes again! Not sure how they Fidelity) can continue to say hold while my IRA continues to sink! Are we still building back better? Asking for my 401.
Source: CNBC - 🏆 12. / 72 Read more »

Dow Drops Below 30000 as Growth Fears Roil MarketsThe Dow Jones Industrial Average fell below 30000 for the first time since June as U.S. stocks fell after investors were jolted by new signs of slowing global growth Stores are beginning to close in PuertoRico because ran out of diesel fuel for the generators. A week after Fiona the island is without electric power. Walmart Shell Exxon Cotsco and many others. Thanks for restoring my happiness in my darkest days, during those period I invested $500 and to my greatest surprise I got a return of $5500 in just seven days her reliability can't be equated Lauren_Flores_1 And the DOW + stock market will go right back up. It’s all a game of manipulated numbers. Means almost nothing for regular people since most Americans don’t have 401k at all. Just elites scamming.
Source: WSJ - 🏆 98. / 63 Read more »