The stock market continued to plunge on Monday as inflation concerns and the prospect of more interest rate hikes drove up the value of U.S. Treasury notes, Reuters reports.
The Wall Street Journal described a "broad selloff" that left "investors with few places to shelter from the market's tumult." Tech, industry, energy, and even cryptocurrency were all caught in the downward spiral.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
As of Monday afternoon, the Dow Jones Industrial Average was down more than 400 points since the opening bell and more than 4,000 points since the beginning of 2022.
"Markets are continuing to re-price inflation risks as it becomes more evident that inflation is likely to be with us for longer than some people had hoped," Chris Zaccarelli, the chief investment officer at Independent Advisor Alliance in Charlotte, North Carolina, told Reuters.
-
The Week Unwrapped: Can bullfighting win over young SpaniardsPodcast Plus, is online fandom inherently unhealthy? And is Putin’s economy running out of gas?
-
Heirs and Graces: an ‘enthralling’ deep dive into the decline of nobilityThe Week Recommends Eleanor Doughty explores the ‘bizarre fascination’ with the British aristocracy
-
The week’s best photosIn Pictures A monstrous pumpkin, a sumo showdown, and more
-
Is a financial market crash around the corner?Talking Points Observers see echoes of 1929
-
Gold tops $4K per ounce, signaling financial uneaseSpeed Read Investors are worried about President Donald Trump’s trade war
-
Why are beef prices rising? And how is politics involved?Today's Big Question Drought, tariffs and consumer demand all play a role
-
Electronic Arts to go private in record $55B dealspeed read The video game giant is behind ‘The Sims’ and ‘Madden NFL’
-
Fed cuts interest rates a quarter pointSpeed Read ‘The cut suggests a broader shift toward concern about cracks forming in the job market’
-
The AI bubble and a potential stock market crashToday's Big Question Valuations of some AI start-ups are 'insane', says OpenAI CEO Sam Altman
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
