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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by WashingtonExaminer:

The stock market took a battering Wednesday, extending the past few months’ losses as inflation lashes the economy and the Federal Reserve hikes interest rates.

The Dow Jones Industrial Average lost more than 1,100 points, or 3.5%, the worst single-day loss since the COVID-19 pandemic struck in the spring of 2020. The tech-heavy Nasdaq plummeted by about 4.7%, and the S&P 500 closed down more than 4%.

The article goes on to state the following:

Major retailers Target and Walmart posted earnings that were below forecast expectations, with both companies blaming the drops on higher fuel and labor costs. Target shed more than a quarter of its value in a single day, while Walmart was off by about 7.3% Wednesday after losing nearly 11.4% the day before.

The S&P 500 fell by 4% on Wednesday and the Nasdaq shed nearly 5% as investors reacted to a weak first quarter earnings report by Target.

According to the report, Dollar Tree fell 14% and Dollar General slumped 11%. Best Buy fell 11% and Amazon declined 7.2%. Technology stocks also fell broadly. Apple lost 5.6%.

Microsoft, Alphabet, Facebook and Tesla all fell between 3.9% and 7%.

According to AAA, the national average price for a gallon of gasoline hit a record $4.57, all together causing economists to be concerned about the possibility of a recession.

The continuous rise in inflation has also sparked concern over the amount of money the US continues to spend in Ukraine as the region deals with the ongoing invasion by Russia.

“The Stock Market just had its worst day since June 2020 Gas Prices just hit an all-time high,” Charlie Kirk tweeted. “Babies are being hospitalized because of a nationwide formula shortage Inflation is hitting record levels Explain to me why we would send $40B to Ukraine when America looks like this?”

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To get more information about this article, please visit WashingtonExaminer.

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  1. Yes,
    Explain to me why we are sending 40 billion to the Ukraine?
    The original amount was 30 billion and that was ludicrous
    Our government is out of control
    How much spending and debt is it going to take before the great fall?

  2. People are only beginning to see the damage Bidenflation is doing to the country. Wait til the effect of $5 and $6 gas sinks in and affects spending on non-essentials like travel and entertainment and luxury items. It’s like this admin is bent on doing all it can to screw up the country for the citizens, and give or send what’s left to people in other countries. This smells just like Obama.


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