S&P sinks to bear market, stock crisis gets worse

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S&P sinks to bear market, stock crisis gets worse

Commerce Street Capital CEO Dory Wiley and Columbia Threadneedle head of integrated equity Ernesto Ramos analyze the market sell-off on ‘The Claman Countdown.’

The crisis roiling U.S. stocks went from bad to worse on Monday as the S&P 500 closed in a fresh bear market, complicating the next move by the Federal Reserve.

The broadest measure of the stock market fell 3.9% or 151 points and is now off 22% from its Jan. 4 high of 4,796.56.

The selloff has erased over $9 trillion in market value, according to Bespoke Investment Group, that’s $1.2 trillion more than during the Financial Crisis of 2007-2009 the firm detailed in a research note.

Biden touts Americans have ‘more money in their pockets’ but voters say president making inflation worse

FOX Business’ Stuart Varney says Americans’ biggest issue facing the economy is inflation.

President Biden is highlighting that Americans have more money in their pockets than they did a year ago.

But a new FOX Business poll indicates that voters’ concerns about inflation are surging, and many are blaming the president’s policies for making matters worse.

Showcasing that “Americans are back at work at a record-setting pace,” Biden said in a statement on Thursday that “families have more money in their pockets: Americans on average have about $100 more in their pockets each month than they did last year, after accounting for inflation.”

JOBLESS CLAIMS TICK UP LAST WEEK AMID UNEVEN ECONOMIC RECOVERY

The president’s comments came as he touted new government statistics showing that the average number of Americans filing unemployment claims over the past four weeks is now at its lowest level since 1969.

“When I took office,

Fox Business Poll: Voters think Biden is making inflation worse

President Biden tours a neighborhood in Mayfield, Kentucky.

Voters are worried about inflation — and they think the White House is making it worse.

A new Fox Business poll finds that when it comes to rising prices, twice as many think the Biden administration’s actions are hurting rather than helping.

In addition, by a 25-point margin, voters believe President Biden’s proposed social spending plan would push inflation higher and by 6 points they think it would hurt the economy.

“One thing the president has going for him is low expectations,” says Democratic pollster Chris Anderson, who along with Republican counterpart Daron Shaw, conducts Fox polls. “If the spending plans start to have positive impacts in people’s lives, maybe some will reconsider their view of Biden.”

TOM COTTON MOCKS BIDEN ADMIN CLAIM THAT INFLATION IS FAULT OF ‘MEAT CONGLOMERATES’

About 4 in 10 say inflation is the biggest issue facing the

Inflation will likely get even worse just before it starts off improving, Goldman warns

Johnson Smick Global chairman and CEO David Smick presents insight into no matter whether inflation is transitory.

American customers are grappling with the swiftest value increases in a long time, with the charge of almost everything from cars to gasoline to foodstuff surging nationwide.

And the challenge may well get worse in advance of it starts to boost.

In an analyst be aware to customers on Sunday, Goldman Sachs economists warned that pandemic-induced disruptions in the global source chain – which have induced congestions in ports and warehouses nationwide – could last more time than predicted as surging demand struggles to keep up, which means that inflation metrics will continue being “fairly high for substantially of subsequent yr.”

“It is now apparent that this procedure will take longer than in the beginning predicted, and the inflation overshoot will possible get even worse prior to it will get superior,” they wrote.