A recession in the near future isn’t a foregone conclusion, but it is likelier than it was, say, a year ago. The bad news is it always works because it creates a recession,” Colas said. Those measures may be necessary, but they’re also ones that make Wall Street nervous. The Federal Reserve has begun to raise interest rates and will soon begin to reduce its balance sheet to combat inflation and try to get prices back under control. In April, the Consumer Price Index, which measures what consumers pay for goods and services, was up 8.3 percent from the previous year and 0.3 percent for the month. Inflation is a problem in the United States and across the globe, with the US inflation rate near its highest levels in 40 years. Twice a month, Emily Stewart’s column exposes the ways we’re all being squeezed under capitalism. With that in mind, maybe the best explanation of what’s going on right now is that there are a lot of reasons for investors to be freaked out, and so they are. There is never a singular answer for why markets do what they do, why stocks rise and fall, or why investor sentiment changes from one day to the next. There’s a lot to be anxious about on Wall Street and the economy right now “While we are seeing this broad-based sell-off in the market, and it does seem like you cannot avoid it, this isn’t exactly a time for panic,” said Kristin Myers, editor-in-chief of the Balance, a finance website. It’s also one most investors should likely try to weather - stocks don’t go down forever. We’re in the midst of quite a storm right now.
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“There is never a safe haven when the storm is in full force.” Everything moves together,” said Nick Colas, co-founder of DataTrek Research. “In market dislocations, correlations always go to one. Chances are if you look at your investments right now, you maybe aren’t feeling so great. In the broader recent picture, there really haven’t been many bright spots.
Investors are anxious about what’s on the horizon and what policymakers are going to do about it. The long and short of it is that markets are bouncy and on edge. On Wednesday morning, after the release of the latest inflation numbers from the Bureau of Labor Statistics, stocks briefly slid before rebounding. Stocks fell late last week and on Monday before offering a modest reprieve on Tuesday. Bitcoin, which many proponents have long argued is a form of digital gold that could serve as a hedge for market turmoil, briefly fell below $30,000 more than once this week, less than half of where it peaked at nearly $69,000 in November 2021. Many names big and small in the tech sector, in particular, have been struggling. This week, the S&P 500 hit its lowest level in a year. Last week, the Dow and Nasdaq saw their worst single-day declines since 2020.
The S&P 500, Dow Jones Industrial Average, and the Nasdaq are now well below where they were at the start of the year, down 16 percent, 12 percent, and 26 percent, respectively, as of market open on Wednesday.
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