The S&P 500′s rapid 10% decline from a record high into correction territory has wiped out trillions of dollars in market value.
The market value of the S&P 500 at its Feb. 19 peak was $52.06 trillion, according to FactSet. Thursday’s decline put the index’s market value down to $46.78 trillion.
That makes for a total loss of about $5.28 trillion in about three weeks.
The decline has come in the shadow of President Donald Trump’s burgeoning trade war with several of the United States’ major trading partners, with headlines about tariffs at times seeming to drive market moves. There have also been signs of slowing economic growth, with weak consumer sentiment surveys and tepid outlooks from retailers like Walmart.
“Our interactions with clients indicate that the mood music is changing. While many see recession talk as premature, concerns about erratic policy from the new administration abound, with the ‘uncertainty tax’ hitting growth expectations,” Barclays strategist Emmanuel Cau said in a note to clients...
You may or may not want to check your 401(k) or other investments, if you're lucky (?) enough to even have such things in the age of tech bro oligarchs and the convicted felon imbecile Malignant Fascist.
Take a deep breath and fasten your seat belts, because the destroyers have just gotten started.
🥵 My family been sweating a lot this winter because the Sphincter Face is going to destroy all of our Social Security and we all gotta move in together, we 'spose! But now, he is destroying the other half of my income. I am part of CalPERS, which keeps my retirement investment very safe and solid...when there's not a stoopid jackass purposefully trying to kill it!! My cat is really upset about maybe having to share his breakfast bowl with me!!🙀
ReplyDeleteCleora --We keep hoping there'll be an epiphany in this country about what happens when you elect a pathological liar/ lifelong grifter/ convicted felon/ demonstrably ignorant buffoon to the Presidency. It didn't come in time for 2024. It may be too late now, with all the worst, most servile people installed by the Malignant Fascist in critical positions who are willing to carry out his nitwit, economy-crashing, democracy- destroying orders.
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