S&P 500 index closes first half The worst inslot wallet52 years after the economic numbers were reported. The Dow Jones closed more than 250 points.
On July 1, 2022, Business Insider reported that US stocks tumble as S&P 500 closes first half It plummeted in 52 years since 1970 after reporting the basic consumer expenditure index. On Thursday, data showed US household spending growth slowed last month. As Americans struggle to cope with rising prices
Both the S&P 500 and the Dow Jones Industrial Average. It is moving into its worst three months since the COVID-19 pandemic. Most recently, the Dow closed at 3 0.775 points, -253 points, or -0.82%, while tech stocks fell as well. The Nasdaq fell more than 20%, its worst since 2008.
rising inflation Fed interest rate hike war in ukraine and the impact of the global pandemic All of them are factors that create pressure on the market. Many have sounded the alarm of an impending recession around the world.
Meanwhile, statements from Fed Chairman Jerome Powell and other central banks on Wednesday raised concerns about a recession among investors again.
at the European Central Bank meeting in Portugal Powell said There is no guarantee that the US will be able to avoid a catastrophic slowdown. Amid raising interest rates to fight inflation
Powell also said that This process tends to be painful. But even worse is the failure to deal with such high inflation. and let it continue to happen
Investors now look to the Federal Reserve to cut interest rates from 50 basis points in 2023 as economic growth slows sharply.
While Warren Buffett's Berkshire Hathaway earned nearly 40 times its share of Chinese electric car BYD after placing a $232 million bet in 2008, the stock is now valued at more than a quarter. 9 billion dollars
The crypto was hit by hedge fund Three Arrows Capital, which dragged bitcoin down $19,000 on Thursday.
