[Foreign Media] U.S. stock "Black Tuesday" Falling Polymels: "Economic Discination" is coming soon

Author:China Daily Time:2022.09.14

China Daily.com, September 14th. Although the overall "inflation pace" of the United States slowed down for the second consecutive month, the price was still high in August. The news caused the US stock market to be chaotic, and the Dow Jones Index fell nearly 1,300 points. Data show that the total market value of U.S. stocks lost about 2.36 trillion US dollars (about RMB 1.634 trillion).

The US Department of Labor announced on Tuesday that its August Consumer Price Index (CPI) increased by 8.3%over the same period last year. This number below 8.5%in July and 9.1%in June was the highest level in 40 years.

Because American shoppers are facing high prices of daily commodities and services

The U.S. stock market fell the largest single -day decline in two years on Tuesday, from stocks, bonds to oil and gold, which encountered investors sold. The 30 component stocks of the Dow Jones Index fell, and all 11 shares of the S & P 500 Index were also soft.

The Dow Jones Index fell 1276.37 points, a decrease of 3.9%to 31104.97 points. The S & P 500 index fell 177.72 points, a decrease of 4.3%to 3932.69 points. The Nasdaq Comprehensive Index fell 632.84 points, a decrease of 5.2%to 11633.57 points.

These three indexes have all the largest daily declines since June 11, 2020. The Dow Jones Industrial Index fell 14%since 2022, the S & P 500 index fell 17%, and the Nasdaq Composite Index fell 26%.

Although the overall inflation rate has slowed down, the inflation rate is still at the level that has not been seen for four years. The level of high inflation not only makes the cost of life "rising and high," the risk of decline in the United States has also increased significantly.

The Federal Reserve Chairman Jerom Powell warned last month that the Fed will use various means to use various means to lower prices, and families and businesses will face some pain. This shows that he expects the Fed's policy to slow down employment growth and expenditure.

The Federal Reserve said in a report that because consumers and companies are facing high inflation and tight labor markets and economic uncertainty, U.S. companies are expected to remain weak in the end of summer.

"We believe that there may be a lot of weakness at this stage price at this stage."

Northern Trust Asset Management Chris Shipley, chief investment strategist in North America, said: "If the Fed does not take greater action to cope with inflation, the economic recession is coming."

Compilation: Cao Yuanqing Li Haipeng

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