HomeMortgage'Recession Risks Are High': Fears Prompt Stock Plunge as Inflation, Spiking Gas...

‘Recession Risks Are High’: Fears Prompt Stock Plunge as Inflation, Spiking Gas Prices Hurt Average Americans

The number one issue on Americans’ minds in this election year is inflation and the economy. High inflation rates and plenty of uncertainty about the state of the economy are sending chills through investors.

The stock market suffered a devastating day Wednesday following disappointing earnings reports from some of the top U.S. retail chains like Target and Walmart. And stocks continued their slide on Thursday pushing the S&P 500 to the brink of a bear market and warnings of a possible recession in the next year.

“Recession risks are high — uncomfortably high — and rising,” Mark Zandi, chief economist at Moody’s Analytics, told the Washington Post. “For the economy to navigate through without suffering a downturn, we need some very deft policymaking from the Fed and a bit of luck.”

Retailers led the declines across the stock market Wednesday, with Target being the worst…

Read more at www1.cbn.com

- Advertisment -

Most Popular