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Stock Market Hits Lowest Point in Two Years, Collapse Imminent?

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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.

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.

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..

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