Investors are starting to lose confidence in this administration and the market is a direct reflection of that.
After a brutal week by the Biden administration and some disturbing international news over the weekend, Dow Futures were off before the market opened.
As soon as the opening bell rang, it only got worse, with the Dow down almost 800 points, S&P down more than 100 points, and NASDAQ tumbling more than 400 points as of noon Central on Monday.
There are numerous reasons investors are clearing their accounts right now.
First, the Federal Reserve announced a two-day session will start on Tuesday.
A result of that meeting could pull stimulus funding while, at the same time, inflation continues to surge.
News out of China regarding the property market also caused a massive sell-off in Asian markets at the beginning of Monday’s session.
Finally, there is concern over the debt ceiling in our country, an issue that could result in a possible shutdown of the government, as neither side of the aisle seems ready to budge right now.
In the meantime, the market continues to plunge after having already seen three full weeks of setbacks.
Joe Biden is not helping the situation by taking a weekend beach jaunt amid multiple domestic and international crises.
Kamala Harris has also been MIA throughout, which has created even more concern about what will happen if the need arises to remove Biden from office.
Remember that market crash we predicted if Democrats won the White House back in November 2020?
Well, it is happening.
Source: Just the News