When the CDC Director brags that her 5th vaccine shot in 2 years is going to work great, maybe it’s not a vaccine. The unvaccinated went from the vilified to the validated real quick.
Printing money caused inflation. It’s that simple. A child can understand the principle of dilution. But now, to combat inflation, the government’s plan is to slow down the economy by increasing interest rates. I hope enough people will realize the firefighters are arsonists. Biden inherited a roaring recovery and turned it into 13% inflation and a market decline.
Questions: Can democrats go 1 day without thinking about or talking about Trump? Is Joe Biden now the world’s leading human trafficker?
An 18 year old conservative is murdered by 41 year old leftist and the media is totally silent. No connection to Joe Biden and his insane speech of just 2 weeks ago… it’s as though it never happened and doesn’t matter. Shannon Brandt admitted to purposefully running down Cayler Ellingson because he was a Republican. Then, he’s promptly released on bail. Dems’ hateful rhetoric continues to bear toxic fruit.
What is happening here? Is Biden a grave national security threat?
“Joe Biden was on 60 minutes and he had to ask how long it was” – Tim Allen
PERVERT ALERT:
What are Republicans going to do about these Democrat hacks in these prosecutors’ offices, who abuse their power to target President Trump, his family, and other Republicans? Unfortunately, but importantly, not until Republican prosecutors target prominent Democrats will this stop. The Bidens and Pelosis are ripe for the picking.
Biden’s DOJ sent an FBI SWAT team to arrest a pro-life activist. His crime? Pushing an abortion activist away from his 12-yr-old son when the man (allegedly) got into the boy’s face and shouted obscenities at his family. “Ryan-Marie…explained the SWAT team of 25 to 30 FBI agents swarmed their property with around 15 vehicles at 7:05 a.m. this morning. Having quickly surrounded the house with rifles in firing position, ‘they started pounding on the door and yelling for us to open it.'” This is about inspiring fear in the regime’s enemies. But I think it will do the opposite. They’re going to reap the whirlwind.
If you are close to retire and you checked the status of your retirement investments, all you can say is thank you Joe Biden for screwing over someone who worked all their life.
They said NATO expansion wouldn’t be escalatory. It was. They said giving Ukraine long-range weapons wouldn’t be escalatory. It was. Now they promise Putin is bluffing.
Why nobody wants to join the military. Recruitment numbers are way down. Sign on bonuses are at an all time high. The Government has no problem recklessly spending money on the military, so what’s the problem?
Not helping: knowing your going to be subjected to woke critical race theory, inclusiveness, and no telling what leftist politically driven “training” is enough to make anyone run the other way.No faith in the administrative state.Most combat arms troops generally come from right-wing or conservative backgrounds. You’ve been spending the last 4-6 years dragging police and military through the mud, most conservative.
You’ve got a weaponized DOJ, ATF, FBI, CIA–It’s no mystery that they are being specifically used to target Conservatives. Do you really expect a rural Conservative to join a combat arms when you’re telling them they are terrorists and extremists? A woke military. Like it or not, the military is an environment of alphas who are being trained to kill human beings. The political token of the woke culture has no place in military ranks.
War is a deadly environment, and soldiers need to be focused on their job, not on made up Marxist goofiness. Don’t even mention soldiers being kicked out over the not getting the jab.
20 years of lies will make you wise. You know that the Government is willing to lie to get their way. They don’t care who they hurt, or who dies. As long as those military checks are good, they are good.
We know Dick Cheney lied about WMDs. He lives a comfortable life outside of a prison cell while our troops live on the streets. Experience is the greatest teacher, so obviously why would a young person with half a brain sign up for that?
The people who are currently serving are treated like 2nd rate citizens. Would you join the military if you knew the answer to inflation was to “go get on food stamps”.
Also, knowing your going to be subjected to woke critical race theory, inclusiveness, and no telling what leftist politically driven “training” is enough to make anyone run the other way.
You’re not worth dying for. Think about it. Society has spent the last 4-6 years telling them how bad America is, how bad military and law enforcement members are, and how unfair life is in our Country. We’ve been told masculinity is toxic and that they are racists.
Society is sitting on their butts and have zero work ethic, and there’s a lot of great jobs out there that pay better than the military and don’t subject you to loss of life and limb over half of society wanting you dead because of who you are and your political identity.
They don’t want to fight Americans. The writing is on the wall. Many areas are already starting to peacefully Balkanize, if only in the logistical sense of banking, goods, and services. It’s happening Geographically, too. Look at the mass exodus from CA.
Depression in our youth is at an all time high. They feel defeated and downtrodden. They feel like society doesn’t support them. All they have is their family and friends for support. They aren’t dumb, either. Gen Zs are very well educated. They see the turmoil our Government is causing.
Gen Z is more afraid of our own Government than anyone else in the World. Why should they wear your uniform when you support disarming us? Why in the world would they risk their lives for you?
Troops from the last 20 years of war are parents now. What do think they are telling our kids? You’re INSANE if you think they are recommending kids sign up for your endless wars.
We are tired of endless wars. I don’t think Gen Z is comprised of cowards. I think they are smart enough to realize what they are signing up for.
There’s DEMOCRATS on the road, people!
Their brains are squirmin’ like a toad!
It’s an obsessive-compulsive brain disorder or disease they suffer from called TRUMP MANIA, where regardless of where they are, or what they are doing, they feel as if Donald Trump is looming large just behind them, ready to give them a “wedgie” and to turn them into MAGAtards and semi-fascists and DREGS OF SOCIETY who belong in a BASKET OF DEPLORABLES!
And with respect to like it or not, the military is an environment of alphas who are being trained to kill human beings, and the political token of the woke culture has no place in military ranks, and war is a deadly environment, and soldiers need to be focused on their job, not on made up Marxist goofiness, these following words are taken directly from the Soldier’s Handbook I was issued when I joined the U.S. Army to go to Viet Nam, and the Code of Conduct for members of the United States armed forces which states in Article I as follows:
I am an American fighting man.
I serve in the forces which guard my country and our way of life.
I am prepared to give my life in their defense.
end quotes
And when I got back from VEET NAM, it most certainly was to be treated as a second-class citizen including being spit at by the anti-war folks out in the airport in San Francisco.
The liberal crowd thought I should be responsible for my own medical bills related to being wounded in combat, because according to them, it was MY OWN FAULT!
So a lot of objective truth being told above here.
WHO WANTS TO DIE FOR JOE BIDEN’S LIES?
AND STOP THE PRESSES!
STOP THE PRESSES NOW!
HUGE DYNAMITE RED-HOT BREAKING NEWS!
PELOSI WITCH HUNTERS, AKA “THE SCALP HUNTERS,” SET TO INDICT TRUMP ON 28 SEPTEMBER 2022 IN A NATIONALLY TELEVISISED PRIMETIME SPECTACULAR ON A LAUNDRY LIST OF CRIMINAL CHARGES, INCLUDING TREASON, SEDITION, INCITING TO RIOT, RIOTING, INSURRECTION, GRAND THEFT AUTO, FELONY TALKING SMACK ABOUT JOE BIDEN, AND THE TOP CHARGE BEING ALLEGED FELONY SEXUAL ASSAULT OF A DEMOCRAT PRESIDENTIAL CONTENDER DURING A TELEVISED PRESIDENTIAL DEBATE, REFERRING TO THE DEBATE WHERE TRUMP COULD CLEARLY BE SEEN LOOMING LARGE BEHIND HILLARY WHERE THE WITCH HUNTERS SAY YOU CAN CLEARLY SEE HIS SMALL HAND RACING TOWARDS ITS TARGET AS TRUMP GRABBED HILLARY BY HER YOU-KNOW-WHAT, CAUSING HILLARY TO LOSE HER ATTENTION FOR A VITAL MOMENT WHICH IN TURN COST HER THE 2016 PRESIDENTIAL ELECTION FOR WHICH THE DEMOCRATS HATE TRUMP WITH A PASSION ONLY DEMOCRATS CAN MUSTER UP.
BREAKING NEWS!
STAY TUNED FOR FURTHER DETAILS!
And taking a stroll down memory lane and looking back in time as to how we got to where we are today as we look at some famous last words from Biden treasury secretary Janet “TOODLES” Yellen:
CNBC
“Treasury Secretary Janet Yellen makes push for major stimulus, sees bigger risk in not doing enough”
Jeff Cox
February 18, 2021
Treasury Secretary Janet Yellen on Thursday said a large stimulus package is still necessary to get the economy back to full strength, despite momentum suggesting that growth is off to a faster start than anticipated in 2021.
Yellen said she’s not worried that all of the government spending could cause inflation down the road.
“Inflation has been very low for over a decade, and you know it’s a risk, but it’s a risk that the Federal Reserve and others have tools to address,” she said.
And as American autocrat/theocrat Joseph Robinette Biden, Junior builds back America better than it has ever been built back by any other American president in the history of American presidents, let’s go see how well off we who actually live in America, as opposed to Cloud Cuckoo-Land, are today, compared to yesterday:
Reuters
“TREASURIES-U.S. yields hit fresh highs as rate hike concerns grip markets”
By Davide Barbuscia
SEPTEMBER 26, 2022
NEW YORK, Sept 26 (Reuters) – U.S. Treasury yields hit fresh highs on Monday, rising in tandem with euro zone and British government debt yields amid concerns that central banks globally will keep tightening monetary policy to curb stubbornly high inflation.
Atlanta Fed President Raphael Bostic said on Monday events in the United Kingdom could raise economic stress in Europe and the United States.
Two-year Treasury yields, which tend to be more sensitive to interest rate changes, rose to a fresh 15-year high of 4.312%, and benchmark 10-year note yields rose nearly 20 basis points from their Friday close, climbing to an intra-day high of 3.9%, the highest since April 2010.
*****************************************************
Reuters
“Bank of England ‘will not hesitate’ to act as it monitors market turmoil”
By Amanda Cooper, David Milliken and Andy Bruce
September 26, 2022
LONDON, Sept 26 (Reuters) – The Bank of England said on Monday it would not hesitate to change interest rates and was monitoring markets “very closely”, after the pound plunged to a record low and British bond prices collapsed in response to the new government’s financial plans.
Finance minister Kwasi Kwarteng sent sterling and government bonds into freefall on Friday with a so-called mini-budget that was designed to grow the economy by funding tax cuts with huge increases in government borrowing.
******************************************************
Reuters
“Wall Street ends lower, Dow confirms bear market”
By Noel Randewich
September 26, 2022
Sept 26 (Reuters) – Wall Street slid deeper into a bear market on Monday, with the S&P 500 and Dow closing lower as investors fretted that the Federal Reserve’s aggressive campaign against inflation could throw the U.S. economy into a sharp downturn.
Confidence among stock traders was also shaken by dramatic moves in the global foreign exchange market as sterling hit an all-time low on worries that the new British government’s fiscal plan released Friday threatened to stretch the country’s finances.
The Dow is now down 20.5% from its record high close on Jan. 4.
According to a widely used definition, ending the session down 20% or more from its record high close confirms the Dow has been in a bear market since hitting its January peak.
**********************************************************
Reuters
“U.S. Congress negotiators set nearly $12 bln in new Ukraine aid -sources”
September 26, 2022
WASHINGTON, Sept 26 (Reuters) – Negotiators of a stop-gap spending bill in the U.S. Congress have agreed to include nearly $12 billion in new military and economic aid to Ukraine in response to a request from the Biden administration, sources familiar with the talks said on Monday.
******************************************
Reuters
“U.S. dollar strength creating ‘untenable’ situation that risks financial crisis – Morgan Stanley”
September 26, 2022
NEW YORK, Sept 26 (Reuters) – The recent rally in the U.S. dollar is creating an “untenable situation” for riskier assets that could end in a financial or economic crisis, strategists at Morgan Stanley warned in a note Monday.
***********************************
Barron’s
“Credit Card Interest Rates Hit a 26-Year Peak — and Are About to Go Higher”
By Elizabeth O’Brien
Sept. 21, 2022 2:11 pm ET
And oh, yeah, I forgot this:
The Washington Examiner
“Biden tries happy talk about the ‘transitory’ economy as elections loom”
Opinion by W. James Antle III
24 September 2022
As rising interest rates join the highest inflation in decades as a pinch on the public’s wallets, President Joe Biden and his team are rolling out a novel response: telling voters less than two months before the midterm elections that everything is pretty good.
“Inflation rate month to month was just an inch, hardly at all,” Biden said when asked about the 8.3% annual inflation rate and what he could “do better and faster” to bring grocery bills down.
“This is one of the strongest job markets that we have seen on record,” White House press secretary Karine Jean-Pierre told reporters on Friday when asked about falling stock markets.
“So, given the encouraging initial signs that we have seen on inflation and the continued strength of growth in the job market — so we believe in — the transition remains possible,” she said when asked about Federal Reserve projections that the economy will grow “just 0.2% for the entirety of this year and then 1.2% for next year.”
CNBC
“Jobless claims hit five-month low despite Fed’s efforts to slow labor market”
By Jeff Cox
September 29, 2022
Initial filings for unemployment claims fell last week to their lowest level in five months, a sign that the labor market is strengthening even as the Federal Reserve is trying to slow things down.
The strong labor numbers come amid Fed efforts to cool the economy and bring down inflation, which is running near its highest levels since the early 1980s.
Central bank officials specifically have pointed to the tight labor market and its upward pressure on salaries as a target of the policy tightening.
“The recent decline in layoffs flies in the face of the Fed’s efforts to soften up labor market conditions and knock inflation back down toward its 2% target,” said Jim Baird, chief investment officer at Plante Moran Financial Advisors.
There was more bad news Thursday for the Fed on the inflation front.
The personal consumption expenditures price index, a favorite inflation gauge for the Fed, showed a 7.3% year-over-year price gain in the second quarter, the Commerce Department reported in its final GDP estimate for the period.
That was above the 7.1% reading in the prior two Q2 estimates and just off the 7.5% gain in the first quarter.
Excluding food and energy, core PCE inflation was 4.7%, 0.3 percentage point higher than the previous two estimates but below the 5.6% jump in Q1.
The Fed has raised interest rates five times in 2022 for a total of 3 percentage points, and officials have stressed the importance of continuing to hike until inflation comes down closer to the central bank’s 2% target.
“We have to do what we must do to get back to price stability, because we can’t have a healthy economy, we can’t have good labor markets over time, unless we get back to price stability,” Cleveland Fed President Loretta Mester told CNBC’s “Squawk Box” in an interview Thursday morning.
However, the Cleveland Fed’s own Inflation Nowcasting gauge shows little improvement on the inflation front in September even with a sharp decline in gas prices.
The gauge is indicating an 8.2% increase in the headline consumer price index and a 6.6% increase in core prices, compared with respective readings of 8.3% and 6.3% in August.
The BEA’s final estimate for Q2 GDP was a decline of 0.6%, unchanged from the previous estimate.
That was the second straight quarter of negative GDP, meeting a commonly accepted definition of a recession.
What the Biden white house is saying:
The Washington Examiner
“White House adamant that Biden ‘intends’ to run in 2024 despite voter sentiment”
Christian Datoc
26 SEPTEMBER 2022
White House press secretary Karine Jean-Pierre danced around a negative poll Monday showing a majority of Democratic voters don’t want President Joe Biden to run for reelection in 2024.
“What I can say is, and we talked about this, in our August memo — we are going to go out there, not just the president, the vice president, the Cabinet secretaries, you have congressional members in their district as well, and we’re going to talk about how we have delivered for the American people.”
********************
WHAT the Biden-istas and his pack of Democrats have delivered for the American people:
Reuters
“Wall Street keeps selling as world assets fail to recover”
By Lawrence Delevingne
27 September 2022
Sept 27 (Reuters) – U.S. stocks gave up early gains to fall deeper into a bear market on Tuesday, while sterling showed scant movement a day after hitting a record low, as investors remained nervous about a potential global recession.
U.S. stocks mostly faltered after a morning bounce, with the S&P 500 hitting a two-year intraday low.
The Dow Jones Industrial Average fell 0.42%, the S&P 500 lost 0.20%, and the Nasdaq Composite added just 0.25%
***************************
CNBC
“Stock market losses wipe out $9 trillion from Americans’ wealth”
Robert Frank
September 27, 2022
Falling stock markets have wiped out more than $9 trillion in wealth from U.S. households, putting more pressure on family balance sheets and spending.
With major market indexes falling even further since early July, and the bond market adding further losses, market experts say the current wealth losses from financial markets could total $9.5 trillion to $10 trillion.
Economists say the drops could soon start rippling through the economy, adding pressure to Americans’ balance sheets and possibly hurting spending, borrowing and investing.
The bottom 50% have lost about $70 billion in stock wealth.
The losses mark a massive and sudden reversal for shareholders who saw record wealth creation from soaring stocks since the pandemic.
The drop in stock wealth also far exceeds the $6 trillion in quarterly stock losses during the beginning of the pandemic in 2020.
While stock markets have seen larger drops on a percentage basis, this year’s stock losses are among the largest ever on a dollar basis.
And before we go to today’s HUGE, VERY BIG BREAKING NEWS, which is that the nationally televised primetime handing down of an indictment of Donald Trump for a laundry list of charges related to him being a Republican president instead of a Democrat by CONGRESSIONAL GRAND JURY CHAIRMAN Adam “SHIFTY” Schiff, the smarmy pencil neck Democrat congress person who represents Disneyland and Hollywood who was the same dude who blew the FIRST IMPEACHMENT of Trump big time with his amateur hour prosecution, has been either postponed or canceled, it’s not clear which, because as the TRUMP SCALP HUNTERS told it in announcing the postponement or cancellation, a hurricane might hit Florida, which is why it is necessary to wait to hand down the indictment, because the hurricane is going to hog the news coverage at the same time the Democrats are going for the maximum damage they can inflict on their Republican opponents in the November mid-terms, I’d like to go back up to @ SEPTEMBER 27, 2022 AT 10:10 AM and the Washington Examiner article titled “Biden tries happy talk about the ‘transitory’ economy as elections loom” by W. James Antle III on 24 September 2022, where we have this following statement from Joe Biden’s personally chosen MINISTER FOR THE PREPARATION AND DISSEMINATION OF STATE PROPAGANDA Katine Jean-Pierre, Joe Biden’s answer to Saddam Hussein’s “Baghdad Bob” ( https://www.youtube.com/watch?v=-Ung95ORVUY ) to ponder the meaning of the wording of, to wit:
“So, given the encouraging initial signs that we have seen on inflation and the continued strength of growth in the job market — so we believe in — the transition remains possible,” she said when asked about Federal Reserve projections that the economy will grow “just 0.2% for the entirety of this year and then 1.2% for next year.”
end quotes
“SO WE BELIEVE IN – THE TRANSITION REMAINS POSSIBLE?”
Uh, people, WHAT transition remains possible, where “transition” means “the process or a period of changing from one state or condition to another?”
She is talking about the transition to a Marxist “state socialism” model (a political system in which the state has control of industries and services, as in “there will be difficulties in turning the country around from capitalism to state socialism to capitalism”) is she not?
And of course she is, because that is precisely what is going on here in America as Joe Biden ushers in the progressive agenda for America, which agenda is taken directly from the Communist Manifesto.
We’re going to be like the Soviet Union back in the 1950’s.
And what a long way downhill from what America was before Joe Biden came along and wrecked our economy almost single-handedly.
THANKS DEMOCRATS FOR DESTROYING OUR ECONOMY SO YOU CAN REPLACE IT WITH THE SOVIET STATE SOCIALISM MODEL INSTEAD!
And my goodness, people, after the embarrassing spectacle Wednesday night of American autocrat/theocrat Joseph Robinette Biden, Junior’s cringe-worthy reference to a dead congresswoman, whom Biden called out to at a conference as if she were there, while Joe was speaking at the White House Conference on Hunger, Nutrition & Health, calling out “Jackie, are you here? Where’s Jackie? She must not be here,” while scanning the room for her, when are these worthless Republicans in the NANCY’S HOUSE going to finally get some guts and put together a RESOLUTION calling on Vice President Karmela Harris to convene and mobilize the principal officers of the executive departments of the Cabinet to activate section 4 of the 25th Amendment to declare President Joseph Robinette Biden, Junior incapable of executing the duties of his office and to immediately exercise powers as acting President?
It’s a simple matter, really, especially since the Republicans already have a template from when the Democrats tried to use it against Trump:
Whereas Joseph Robinette Biden, Junior has demonstrated repeatedly, continuously, and spectacularly his absolute inability to discharge the most basic and fundamental powers and duties of his office, including most recently the duty to respect the legitimate results of a Supreme Court decision, the duty to respect the separation of democratic power under the Constitution, the duty to protect and uphold the Constitution of the United States, including the supporting, not reviling the Supreme Court, the duty to protect the people of the United States and their elected representatives against domestic insurrection, mob rule, and seditious violence related to abortions, and generally the duty to take care that the laws be faithfully executed: Now, therefore, be it
Resolved, That the House of Representatives calls upon Vice President Karmela Harris —
(1) to immediately use her powers under section 4 of the 25th Amendment to convene and mobilize the principal officers of the executive departments in the Cabinet to declare what is obvious to a horrified Nation: That the President is unable to successfully discharge the duties and powers of his office; and
(2) to transmit to the President pro tempore of the Senate and the Speaker of the House of Representatives notice that she will be immediately assuming the powers and duties of the office as Acting President.
Personally, and this is just me, because I have my own opinions, not those of somebody else who isn’t me, I think the Republicans in the NANCY’S HOUSE where Nancy Pelosi is the Madam are too brow-beaten by Nancy and far too craven and cowardly to do what needs to be done to save the nation while it is still possible, and it’s guaranteed that the Democrats will sit on their hands going into the November mid-terms instead of acting to remove a clear and present menace and danger to our collective futures, that menace being Joseph Robinette Biden, Junior, who is spending more and more time in Cloud Cuckoo-Land with one finger hovering over the nuclear trigger.
So clearly, we as a nation and as a people are in a real bind here so long as Joe Biden continues in power when it is more and more clear by the day that his wits are rapidly departing him, something which the Democrats are pulling out all the stops to deny, saying that this being lost in space is nothing new for Joe, and anyway, he was already lost in space when more people in the world who have ever voted for any other American president in the entire history of voting for American presidents, voted in huge masses for Joe Biden, so it is obvious he is what the majority wanted, and because the majority wants and has a psychological need, a Jones, as it is called, for a president who is lost in space, the Democrats will do nothing to thwart the will of the majority, which is how their democracy works – what the majority wants is what everybody else gets!
So because the majority wants a president who is so clearly lost in space, that is what the rest of us are now stuck with.
And so it goes, people, so it goes.
And its just another day in the WHACK-A-DOODLE-DOO WORLD of America’s executive assistant autocrat Karmela Harris who doesn’t know up from down or right from left, but still is considered prime presidential material by the Democrats:
Fox News
“Harris ripped for gaffe touting US ‘alliance with Republic of North Korea’: Kim Jong Un ‘is laughing at us'”
By Gabriel Hays
29 September 2022
Twitter users blasted Vice President Kamala Harris for her recent gaffe in which she claimed the U.S. has an “alliance with the Republic of North Korea.”
Harris made the blunder while visiting the Demilitarized Zone between South Korea, the actual U.S. ally on the peninsula, and the People’s Republic of North Korea, the rogue state run by dictator Kim Jong Un.
While making a speech at the DMZ this week, Harris stated, “So the United States shares a very important relationship, which is an alliance with the Republic of North Korea and it is an alliance that is strong an enduring.”
Conservative commentator John Cardillo lambasted the Biden administration after seeing this clip, tweeting, “Let’s just keep making believe these morons are remotely functional and not complete idiots.”
What the Biden white house ha said:
The Washington Examiner
“White House adamant that Biden ‘intends’ to run in 2024 despite voter sentiment”
Christian Datoc
26 SEPTEMBER 2022
White House press secretary Karine Jean-Pierre danced around a negative poll Monday showing a majority of Democratic voters don’t want President Joe Biden to run for reelection in 2024.
“What I can say is, and we talked about this, in our August memo — we are going to go out there, not just the president, the vice president, the Cabinet secretaries, you have congressional members in their district as well, and we’re going to talk about how we have delivered for the American people.”
******************************************
What the Democrats have delivered, not for, but to the American people:
Reuters
“Wall St posts third straight quarterly loss as inflation weighs, recession looms”
By Stephen Culp
September 30, 2022
NEW YORK, Sept 30 (Reuters) – The S&P 500 closed the books on its steepest September decline in two decades on Friday, skidding across the finish line of a tumultuous quarter fraught with historically hot inflation, rising interest rates and recession fears.
The S&P and the Dow notched their third consecutive weekly declines, and all three indexes posted their second straight monthly losses.
In the first nine months of 2022, Wall Street suffered three quarterly declines in a row, the longest losing streak for the S&P and the Nasdaq since 2008 and the Dow’s longest quarterly slump in seven years.
The Commerce Department’s personal consumption expenditures (PCE) report did little to assuage those fears, showing that while consumers continue to spend, the prices they are paying have accelerated, drifting further beyond the Fed’s inflation target and all but ensuring the central bank’s hawkish monetary policy will continue longer than investors had hoped.
Recession fears also echoed through dire warnings from Nike Inc and cruise operator Carnival Corp, both citing inflation-related margin pressures.
Shares of the companies tanked by 12.8% and 23.3%, respectively.
The Dow Jones Industrial Average fell 500.1 points, or 1.71%, to 28,725.51; the S&P 500 lost 54.85 points, or 1.51%, to 3,585.62; and the Nasdaq Composite dropped 161.89 points, or 1.51%, to 10,575.62.