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%.
They’re Trying to Shut Us Down
Over the last several months, I’ve lost count of how many times the powers-that-be have tried to shut us down. They’ve sent hackers at us, forcing us to take extreme measures on web security. They sent attorneys after us, but thankfully we’re not easily intimidated by baseless accusations or threats. They’ve even gone so far as to make physical threats. Those can actually be a bit worrisome but Remington has me covered.
For us to continue to deliver the truth that Americans need to read and hear, we ask you, our amazing audience, for financial assistance. We have a Giving Fuel page to help us pay the bills. It’s brand new so don’t be discouraged by the lack of donations there. It’s a funny reality that the fewer the donations that have been made, the less likely people are willing to donate to it. One would think this is counterintuitive, but sometimes people are skeptical because they think that perhaps there’s a reason others haven’t been donating. In our situation, we’re just getting started so please don’t be shy if you have the means to help.
Thank you and God bless!