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IPFS News Link • Stock Market

UTTER CARNAGE: The Stock Market Is Coming Apart Like A 20 Dollar Suit As Fear Sweeps...

• http://theeconomiccollapseblog.com, by Michael

This is starting to get really bad.  By now, you have probably heard that the stock market crashed again on Wednesday.  The carnage was immense, and the big names on Wall Street are deeply concerned about what will happen next.  But this wasn't supposed to happen.  After falling for six weeks in a row, this was supposed to be the week when stock prices finally bounced back.  Needless to say, that isn't what we are witnessing.  In fact, we just witnessed the worst day for the Dow since the early days of the COVID pandemic

The Dow shed 1,164.52 points, or 3.57%, to 31,490.07, or the average's biggest decline since June 2020. The S&P 500 traded 4.04% lower to 3,923.68, also the worst drop since 2020. The Nasdaq Composite slipped 4.73% to 11,418.15, which is the largest fall in the tech-heavy index since May 5. The selling was broad and intense on Wall Street with just eight members of the S&P 500 in the green.

If the Dow breaks below the all-important 30,000 psychological barrier, this steady slide in stock prices could quickly evolve into a full-blown avalanche.

There is already a tremendous amount of fear on Wall Street, and at this point it won't take much of a push to set off a colossal wave of panic.

On Wednesday, disappointing results from two of our largest retailers were being blamed for the renewed wave of selling.  Target "reported a stunning 52% drop in profit for the first quarter", and Walmart stock "had its worst day in 35 years" after reporting numbers that were well below expectations.

It turns out that U.S. consumers have a lot less discretionary income to spend at retailers these days because they are having to spend so much more on basics such as food and gasoline.  And we are being warned that all retailers are likely to suffer as long as this highly inflationary environment persists…


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