Black Monday

Black Monday is trending because the stock market just had one. Woooof, it was ugly. The Wall Street Journal said that the market was in “bear territory.” Not quite a bear but into the woods.

The S&P fell 3.8% and the Nasdaq dropped 4.5%. The Dow Jones Industrial Average dropped 900 points.

A bear market is one that drops 20% from recent highs.

Why is this happening? Inflation, global conflict, and restricted supply chains. You know this one, come on, sing along!

The Federal Reserve begins an important two-day meeting today and is reportedly considering a 0.75% interest rate hike. That is a big jump of a magnitude not seen since 1994. Will this slow down inflation and calm the markets? Good question!

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