US stocks suffer longest losing streak since the Great Depression

[G.L.R.]

US stocks suffer longest losing streak since the Great Depression

May 20, 2022



The latest decline leaves the Standard & Poor's  500 down 20% from its peak, and the Dow has dropped another 600 points

US stocks were hammered again on Friday, pushing Wall Street into  bear market status amid inflation and recession fears and leaving  investors on their longest losing streak since the Great Depression by  at least one key measure.  The Standard & Poor's 500 index fell  as much as 2.3%, leaving it 21% below the all-time high that it reached  in January and essentially ending a bull market run that began in March  2020. The S&P is considered the most accurate measure of US stock  market performance, as it's broader-based than the 30-member Dow Jones  Industrial Average, which is made up entirely of blue-chip securities. The  Dow slid as much as 617 points, down 2% on the day and 16% year to  date...

Former Goldman Sachs chief executive Lloyd Blankfein warned earlier this week that the US economy was at a "very, very high risk" of sliding into recession. Inflation is at a 40-year high, and the nation's central bank is pushing interest rates higher to help restore price stability. Only one bear market in the past 50 years wasn't accompanied by  a recession, and that Wall Street crash came in 1987. President Joe  Biden has blamed the inflation crisis largely on Russia's military  offensive in Ukraine, but the US began to experience runaway price  increases in early 2021, nearly a year before the conflict in Eastern  Europe began.

US stocks suffer longest losing streak since the Great Depression — RT Business News
https://www.rt.com/business/555847-us-stocks-slide-to-bear-market-status/

[Aleister Adams]

And then worst is yet to come. Biden is just getting warmed up good. Before this is over we'll see folks jumping outta windows on wall street again.