(ReclaimingAmerica.net) – HAPPENING NOW: The stock market is getting clobbered once again today because of the still high — record-breaking high — inflation that continues to plague almost every facet of American life, according to multiple reports.
CNBC noted at mid-afternoon that the Dow Jones was down over 900 points, the S&P 500 had lost over 3% of its value, and the Nasdaq was down almost 4%.
According to CNBC’s reporting at just before 1 pm Eastern:
“Stocks fell sharply on Tuesday after a key August inflation report came in hotter than expected, hurting investor optimism for cooling prices and a less aggressive Federal Reserve.
“The Dow Jones Industrial Average slid 845 points, or 2.6%. The S&P 500 dropped about 3%, and the Nasdaq Composite sank 3.9%. More than 490 stocks in the S&P 500 fell, with Facebook-parent Meta dropping 7.9% and Caesars Entertainment losing 7.3%.
“The drop erased a large chunk of the recent rally for stocks, but the S&P 500 is still up about 2% from its Sept. 6 close of 3,908 and comfortably above its mid-June levels, when it fell below 3,700.” [emphasis added]
National Review had this to say about the ongoing record-breaking inflation:
“The Consumer Price Index (CPI), a key measure of inflation, increased by 8.3 percent in August compared to the same time last year and increased 0.1 percent from the previous month, the Bureau of Labor Statistics revealed on Tuesday…
“Core CPI, excluding volatile energy and food prices, increased 6.3 percent year-over-year and 0.6 percent from the month before. The price of groceries surged 13.5 percent in August compared to the previous year, the steepest increase since March 1979, according to the Bureau of Labor Statistics.” [emphasis added]
THIS IS A BREAKING NEWS ITEM FROM RECLAIMING AMERICA.
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