White House Makes Admission About Stock Market

Contact Your Elected Officials
The Epoch Times Header

White House press secretary Karine Jean-Pierre said the Biden administration is not monitoring the stock market on a regular basis as the Dow Jones Industrial Average plunged 1,100 points Wednesday.

Speaking to reporters, Jean-Pierre said Wednesday that “nothing has changed on how we see the stock market,” which is “not something we keep an eye on every day, so I’m not gonna comment on that from here.”

The Nasdaq Composite dropped nearly 5 percent while the Dow Jones plunged 4 percent on Wednesday. On Thursday morning, the Dow Jones dropped more than 440 points during the morning session.

Earlier in 2022, former White House press secretary Jen Psaki said that President Joe Biden “does not look at the stock market as a means by which to judge the economy.”

The stock market plunge was, in part, triggered by shares of Target, Walmart, and other retailers seeing significant losses in recent days. For example, Target lost about 25 percent of its value after it reported earnings that fell short of analysts’ forecast, namely due to shipping costs that have been exacerbated by high fuel prices and inflation.

Rising interest rates, high inflation, the war in Ukraine, and a slowdown in China’s economy have caused investors to reconsider the prices they’re willing to pay for a wide range of stocks, from high-flying tech companies to traditional automakers.

The last bear market happened just two years ago, but this would still be a first for those investors that got their start trading on their phones during the pandemic. For years, thanks in large part to extraordinary actions by the Federal Reserve, stocks often seemed to go in only one direction: up. Now, the familiar rallying cry to “buy the dip” after every market wobble is giving way to fear that the dip is turning into a crater.

By Jack Phillips

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Doxed Democrats Are Getting Fired Left and Left

Not a misprint because a title of “left and...

Hold Up, Feds, Without Federalism, There Is No USA

Federalism is essential to governing the U.S., yet the federal government is undermining it by bribing states to implement unnecessary federal programs.

A Widow Inspires The World

Erika Kirk moved the nation with her speech two days after her husband’s assassination, vowing to continue his mission and grow Turning Point USA.

Both Left and Right Are Making Lists

The right admired Charlie Kirk for his faith and patriotism, while the left opposed him for dismantling their positions and narratives with ease.

Redemption’s playbook: The Senior

The Senior isn’t your usual underdog tale, it’s real, it’s raw, and it flips every cliché on its head with a playbook full of grit and plenty of aftermaths.

Thousands Honor Charlie Kirk at DC Prayer Vigil

Thousands of people came together to remember Charlie Kirk and offer tearful tributes at the John F. Kennedy Center on Sunday.

Charlie Kirk Assassination Suspect Under ‘Special Watch’ in Custody: Sheriff’s Office

Suspected assassin of Charlie Kirk is on “special watch” in custody and held separately, the Utah Sheriff’s Office spokesperson confirmed.

Employees Fired, Suspended for Celebrating Charlie Kirk’s Death

Multiple U.S. companies warn employees they could lose their jobs if they post comments celebrating or mocking the assassination of Charlie Kirk.

Turning Point USA Announces Memorial Service for Slain Founder Charlie Kirk

The conservative political nonprofit Turning Point USA has announced a Sept. 21. memorial service for its late founder, Charlie Kirk.

Trump Signs Memo Targeting Direct-to-Consumer Pharmaceutical Advertising

President Trump signed a memo to ensure drug ads give fair, balanced, and complete information to protect and inform American consumers.

Trump Runs out of Patience With China, Sharpens His Words

President Donald Trump’s recent remarks targeting China and its allies mark a noticeable shift in tone.

Trump Signs Order Renaming Department of Defense as Department of War

President Donald Trump on Sept. 5 signed an executive order renaming the Department of Defense as the Department of War.

Trump Signs Executive Order Targeting Countries That Unlawfully Detain Americans

President Trump signed an EO on targeting the unlawful detention of American citizens around the world and to facilitate the release of hostages.
spot_img

Related Articles

Popular Categories

MAGA Business Central