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Investors reacted to the threat of higher interest rates and a possible recession Monday by selling stocks.
The Dow Jones Industrial Average lost 876 points, ending the day off 2.79%, the Nasdaq lost 530 points or 4.68%, and the S&P 500 closed off 3.88% landing it in official bear market territory. A bear market is defined as a 20% fall from a market’s high.
Bitcoin also saw a decline, plunging to $23,000 — a loss of 67% from its high last November.
Podcast host Trish Regan has repeadedly warned of the dangers of the Fed’s loose monetary policy. She has argued since summer of 2020 that the country ran this risk. (Watch bleow.) Meanwhile, with markets anticipating a 0.75% rate hike from the Federal reserve at its meeting this week, there are growing fears of a recession. On Friday, the Labor Department reported that consumer prices grew by 8.6% over last year.
Bond yields are moving higher in anticipation of the Fed’s move. The yield on the 10 year U.S. Treasury bond crept up to 3.363%.
We Often Feel Like David Taking on Giants
Today’s Goliath is the Mainstream Media Industrial Complex that brainwashes the masses.
Our mission is very straightforward: To counter the false narratives and nefarious agendas destroying America today. It isn’t easy for obvious reasons; despite incredible growth over the last year we are still a very tiny fish in a huge media pond. But we’re fighting and we will continue to do so, Lord willing, for as long as we possibly can. The battle for America’s present and future is too important for us to back down to the giants that stand in our way.
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JD Rucker