The ‘Golden Age’ of Stagflation Dawns: Dow falls nearly 750 points and US stocks tumble as businesses and consumers worry about tariffs

https://thehill.com/homenews/ap/ap-business/ap-stock-market-today-asia-shares-trade-mixed-as-china-benchmarks-surge-while-others-slip/?emai

by burtzev

4 comments

  1. >The losses accelerated through the day following several weaker-than-expected reports on the economy. One suggested U.S. business activity is close to stalling, with growth slowing to a 17-month low. The preliminary report from S&P Global said activity unexpectedly shrank for U.S. services businesses, and many in the survey reported slumping optimism because of worries about Washington.

    >“Companies report widespread concerns about the impact of federal government policies, ranging from spending cuts to tariffs and geopolitical developments,” said Chris Williamson, chief business economist at S&P Global Market Intelligence. “Sales are reportedly being hit by the uncertainty caused by the changing political landscape, and prices are rising amid tariff-related price hikes from suppliers.”

    >A separate report said U.S. consumers are also preparing for higher inflation, in part because of potential tariffs that could raise prices for all kinds of imports. They’re broadly expecting prices to be 4.3% higher 12 months from now, which is a big jump from their forecast of 3.3% inflation last month, according to a survey by the University of Michigan. That fits with preliminary data in the survey earlier this month.

  2. All the way down to levels not seen since, checks notes, 2-4 weeks ago depending on your preferred index.

    6 similar drops in last couple months. But you could be lucky and have this be the one that sticks.

  3. It is going to get worse. We need to break them before they break us. Boycott the oligarchs. Support local businesses. Buy only necessities. Participate in the national boycott on 28 Feb. Sign up for the general strike and spread the word: [https://generalstrikeus.com/](https://generalstrikeus.com/)

  4. And here is Trump talking about how America’s “Golden Age” is upcoming. All the while as he is destroying the economy with tariffs and other misdeeds.

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