The stock market posted its largest decline this year 24 hours after its largest gain since 2020. Volatility is a very bad sign. Biden is also in his largest decline in polling according to the latest poll.
The Nasdaq Composite Index fell 647.16 points, or 5%, to 12317.69, the largest one-day percentage decline since June 2020.
The S&P dropped 153.30 points, or 3.6%, to 4146.87, and the Dow slid 1,063.09 points, or 3.1%, to 32997.97, erasing Wednesday’s gains.
The major indexes declined between 7.02 and 9.38 percentage points from Wednesday’s highs to Thursday’s lows, according to Dow Jones Market Data, their largest swings since the first half of 2020.
On NASDAQ’s slide: Big Tech suffered a massive sell-off, with Amazon dropping almost 8% and Facebook owner Meta Platforms off about 7%. Among other big names: Apple fell nearly 6%; Google parent Alphabet declined about 5%; and Microsoft shares slid 4%. Overall, the Nasdaq plummeted 5%.
The Fed’s aggressive shift to raise interest rates has investors worrying about whether it can pull off a tricky balancing act — slowing the economy enough to halt high inflation but not so much as to cause a downturn.
They should be worried.
BIDEN’S APPROVAL ON THE ECONOMY
Biden’s disapproval on the economy plunged to 77%. That is more important than the favorability ratings, pollsters say.
Only two percent say the economy is “very good.”
Americans believe the economy is in the worse shape since January of 2012, a CNN Wednesday poll found. About 77 percent believe President Joe Biden’s economy is poor. Forty-seven percent said the economy is somewhat poor, while another 30 percent said it is very poor, Breitbart reports.
According to CNN:,“Americans disapprove of President Biden’s handling of this (the economy) more than ever before.”
WATCH:
CNN: “Americans disapprove of President Biden’s handling of this [the economy] more than ever before.” pic.twitter.com/mz6o0gWksA
— The Post Millennial (@TPostMillennial) May 4, 2022
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Dr. Paul Craig Roberts, Assistant Secretary of the Treasury appointed by President Reagan……….. “Most likely the stock market fell because the Federal Reserve said it is halting its policy of printing money to support stock and bond prices. Instead, the Federal Reserve is going to sell stocks and bonds from its $9 trillion dollar portfolio built by buying stocks and bonds for more than a decade in order to support the New York Banks and Wall Street. When Quantitative Easing began, the Federal Reserves portfolio was $800 billion. Today it is 11 times larger. This huge increase in the Federal Reserve’s portfolio explains the long rise in the Dow Jones and the fortunes made on Wall Street”…………………………Markets were up about 3% on Wednesday, the Markets knew damn well the Fed was going to raise rates on wednesday, it was thursday when it took a sh*t !!!!!! it is just one giant rigged casino !!!!!
I got out of the Market last summer. It didn’t take a genius to figure out that when Traitor Joe shut down the Energy Industry that America was going to go towards Depression! If you are in the Market you are a fool. A close friend told me yesterday that he should have listened to me. He has lost over $100,000 in retirement savings in the last 9 months.
If you haven’t figured it out yet, the Market is like a Gambling Casino. The House (and insider traders) will always win. If you invest, you have to know when to hold ’em and when to fold ’em. If you are a pig, expect to get slaughtered. All I ask is that we bring those responsible to justice!