Author Topic: The Stock Market Officially Collapses Into Bear Market Territory  (Read 387 times)

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The Stock Market Officially Collapses Into Bear Market Territory


John Hugh DeMastri
Contributor
September 23, 2022 3:32 PM ET

The stock market closed out a week of intense losses with the Dow Jones falling more than 750 points Friday, entering bear market territory amid a wave of investor fears.

At time of writing, the index had, at its lowest point, fallen more than 2.7% during the day to around 29,300 points, with the Nasdaq and S&P 500 down by 2.7% and 2.64% respectively at time of writing. With the Dow Jones officially falling more than 20% from its recent peak in June, stocks will have entered a slump known by investors as a “bear market” if the losses hold when trading ends Friday, according to CNBC. (RELATED: Stocks Stay Volatile As Recession Fears Loom)

The Nasdaq was down by 30.92% this year, with the S&P 500 down 22.98% this year, as of close of business yesterday, according to data from MarketWatch.

“Stocks were overvalued because their nominal price has been fueled by the inflation of the Federal Reserve,” Heritage Foundation economist E.J. Antoni told the Daily Caller News Foundation. “As soon as the Fed took away the punch bowl… what happened? Stocks immediately took a nosedive and are continuing to do so, because the only thing that has been fueling this economic recovery hasn’t been real growth, but again, money creation.”

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https://dailycaller.com/2022/09/23/dow-jones-bear-market/
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Re: The Stock Market Officially Collapses Into Bear Market Territory
« Reply #1 on: September 23, 2022, 10:23:57 pm »
Right now we are in a free floating situation and I can't tell you where the bottom might be.
The Republic is lost.