Elon Musk Reiterates His Worst Nightmare for The Economy

The markets are slumping as investors worry about the consequences of the Federal Reserve’s aggressive interest-rate hikes, designed to fight an inflation rate that’s the highest in 40 years.

The feverishness of investors was marked by the Sept. 13 equity-market route that followed a report confirming that inflation is not easing.

This hotter-than-expected inflation report wiped almost $1.6 trillion from the S&P 500marking the worst session for US stocks since June 2020.

The route particularly affected risky assets such as technology groups. The Nasdaq 100 lost more than 5.5%.

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