US stocks suffer longest losing streak since the Great Depression
May 20, 2022
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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...
(https://media.gab.com/system/media_attachments/files/106/861/488/small/2dace61a27fe7fc2.png) (https://www.rt.com/business/555056-us-stocks-plunge-worst-day/)
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/)
https://www.rt.com/business/555847-us-stocks-slide-to-bear-market-status/
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.