Major US Indices were tanking on Monday morning as the failing Biden economy is catching up to the markets.
Last week we first reported on the NASDAQ going into ‘correction’ territory after dropping more than 10% since its peak.
Mainstream Media Claims Markets Were Up Today Then the Market Drops Into ‘Correction’ Territory for the NASDAQ
This morning the markets are down further. The Biden economy is not so good, as a matter of fact, it’s terrible.
All the major indices were down this morning after last week’s purge. Reuters is reporting this morning:
U.S. stock indexes dropped on Monday, with the S&P 500 on course to confirm a correction as the prospect of a Russian attack on Ukraine posed as a double whammy for investors already worried about aggressive policy tightening by the Federal Reserve.
A correction is confirmed when an index closes 10% or more lower than its record closing level. The S&P 500 index is now down 10.9% from its record closing high on Jan 3.
All the 11 major S&P sectors declined in early trading, with nine of them falling more than 2% each.
The economically sensitive small-cap Russell 2000 index slid 2.8%. The index dropped as much as 20.3% from its Nov. 8 peak, putting it on course to confirm a bear market.