The stock market just hit the lowest point in two years.
The market is currently lower than since before the Biden Administration came into power.
The Dow Jones is down more than 700 points.
Meanwhile, the Nasdaq and the S&P 500 are down more than 2.5%.
The Fed is likely to continue hiking rates over the next several months.
With warnings of a collapse imminent, Americans may be preparing for even tougher times.
JUST IN: The Dow dropped more than 650 points, falling to its lowest level in nearly two years, as investors come to terms with the economy's gloomy future.https://t.co/0a67Cl2qKf
— NPR (@NPR) September 23, 2022
NPR reports on the stock market, which is now at the lowest point since Biden came into office:
The Dow Jones Industrial Average is in a bear market, as stock markets continue their weeklong plunge.
Wall Street is digesting the Federal Reserve’s warning that more interest rate hikes are coming, as it is embraces a gloomy view of the U.S. economy’s future, where a recession seems more likely.
The Dow fell more than 700 points, or 2.3%, on Friday, to its lowest level since November 2020. After falling for five days in a row, the index is on track to close the week 1,000 points below where it started. The Nasdaq and the S&P 500 were also down more than 2.5% each.
Stocks continued to sink on Friday as a growing number of investment analysts released grim projections for markets and the economy this year. https://t.co/ntmSncPGf5
— Forbes (@Forbes) September 23, 2022
Forbes has more:
The Dow Jones Industrial Average fell 599 points, or 2%, to 29,477 by 1:30 p.m. Friday—eclipsing an 18-month low set in mid-June, as the Fed kicked off a series of the biggest interest rate hikes since 1998.
The S&P 500 and tech-heavy Nasdaq similarly sank about 2.3% apiece—each plunging deeper into bear market territory, as oil prices also sank on fears of an economic contraction, with the price of a barrel of West Texas Intermediate tanking 5% to an eight-month low of $79.
The Biden Administration bears the blame for this one.
Who knows how bad things will continue to get..
The Stock Market Is Now Worse Off Than When Biden Took Office https://t.co/IXTDtdJmH4
— Townhall.com (@townhallcom) September 23, 2022
BREAKING: Stock market now lower than when Joe Biden took office https://t.co/XMVD7y3REN
— Not the Bee (@Not_the_Bee) September 23, 2022
"Stock market hits lowest point since 2020"
Inflation of 8.5% (more than 5.5% pay hikes) made Americans poorer .
Now the life savings of 58% of Americans –in a 40lK or IRA– are hitting new lows.
Biden's plan is to district you from inflation by collapsing your life savings.
— Grover Norquist (@GroverNorquist) September 23, 2022
The stock market is now lower than when Joe Biden took office https://t.co/0GLOgnKcgq
— Ben Shapiro (@benshapiro) September 23, 2022
The stock market has dropped below 30,000 for the first time since 2020 & is now down substantially since Joe Biden took office, inflation is at a forty year high, & mortgage rates are now over 6%. Biden is a disaster. 46 days until the midterms. It’s the economy, stupid.
— Clay Travis (@ClayTravis) September 23, 2022
Inflation is at a 40 yr high, gas prices continue to soar, the stock market is cratering, mortgage rates are spiking, & the supply chain and labor crunches roll on.
Biden/Dems take pleasure in your severe economic pain as they deliberately implode the economy.
— Monica Crowley (@MonicaCrowley) September 23, 2022
I’m moving cash onto the stock market starting today. Might not be the exact bottom but I like the odds.
— Scott Adams (@ScottAdamsSays) September 23, 2022