US inflation rate at 8.3%, Dow Jones average drops over 1,200 points

[Shaul]

NEW YORK -- The Dow Jones Industrial Average sank more than 1,250 points Tuesday, its steepest sell-off in more than two years, after a government report showed that inflation is maintaining a surprisingly strong grip on the U.S. economy.

The S&P 500 sank 4.3%, its biggest drop since June 2020. The Dow fell 3.9% and the Nasdaq composite closed 5.2% lower. The sell-off ended a four-day winning streak for the major stock indexes and erased an early rally in European markets.

Bond prices also fell sharply, sending their yields higher, after a report showed inflation decelerated only to 8.3% in August, instead of the 8.1% economists expected.

Markets shudder on dashed inflation hopes; Dow falls 1,250

 

[The Hammer]

At least inflation is down. That's good news.

 

[Shaul]

At least inflation is down. That's good news.

Down to “only” 8.3% is not much to cheer about. Real income is also down. The core CPI is at 6.3%. Which means that inflation will continue going forward.

 

[The Hammer]

Down to “only” 8.3% is not much to cheer about. Real income is also down. The core CPI is at 6.3%. Which means that inflation will continue going forward.

Haha. People have been *****ing about income for years. Like raising min wage for instance.

As far as inflation going up or down. We will see in time. But it's gone down according to what you posted. So I'll continue to take that as good news.

 

[The Hammer]

It's almost like the supply chain was beefed for a couple years, and there is a war in another country that supplies a lot of fuel and/or grain. Huh.... Weird

 

[F1fan]

It doesn't help that many crops in the midwest are ruined due to heat and drought. Corn in Kansas will be vastly down this year, so prices are likley to rise as a result. Climate change predicted this.

 

[Dan From Smithville]

So inflation is dropping. That's a good thing. And the stock market is not the economy.

 

[Watchmen]

At least inflation is down. That's good news.

It’s actually bad news. Inflation was expected to go down more than it did. That’s a bad sign.

 

[Shaul]

So inflation is dropping. That's a good thing. And the stock market is not the economy.

It isn’t dropping. Inflation is a cumulative quantity. I don’t think you understand how it works.

 

[Shaul]

It's almost like the supply chain was beefed for a couple years, and there is a war in another country that supplies a lot of fuel and/or grain. Huh.... Weird

Actually it isn’t like that. The U.S. inflation wasn’t caused by those things. But your post is almost like you accept the current Administration deflections and blame shifting hook line and sinker.

 

[Subduction Zone]

Actually it isn’t like that. The U.S. inflation wasn’t caused by those things. But your post is almost like you accept the current Administration deflections and blame shifting hook line and sinker.

Really? What do you think caused it? Why is there global inflation right now? You forgot the analogy of the supertanker already I see. The major problem that led to this inflation started during the Trump administration. Luckily, for the most part it was not Trump's fault either.

 

[Shaul]

Haha. People have been *****ing about income for years. Like raising min wage for instance.

As far as inflation going up or down. We will see in time. But it's gone down according to what you posted. So I'll continue to take that as good news.

I am glad that you are well off enough to be so cavalier about inflation. Too many others aren’t so well off and are being seriously damaged by it.

 

[Shaul]

Really? What do you think caused it? Why is there global inflation right now? You forgot the analogy of the supertanker already I see. The major problem that led to this inflation started during the Trump administration. Luckily, for the most part it was not Trump's fault either.

The U.S. is more self reliant than most economies. Your assertion that current U.S. inflation is caused more by global causes than domestic ones is specious and an unproven assertion by you. Your assertion that it started during the Trump Administration has no basis in facts. U.S. inflation did not begin rising until after he left office.

 

[Subduction Zone]

The U.S. is more self reliant than most economies. Your assertion that current U.S. inflation is caused more by global causes than domestic ones is specious and an unproven assertion by you. Your assertion that it started during the Trump Administration has no basis in facts. U.S. inflation did not begin rising until after he left office.

Well duh! Take a course in economics. The worldwide inflation did not begin until Trump left office. Worldwide economies do not react quickly. It will take a year minimum for something as serious as even a pandemic.

You failed to find one Biden program that could have caused inflation and if they did they refue your claim about the US economy being "self reliant". When the whole word shares the same inflation as the US the cause is bigger than the President. By the way, I used the same reasoning to defend the "Bush" recession. Bush was not the cause of that recession though many liberals wanted to blame him.

 

[Shaul]

Well duh! Take a course in economics. The worldwide inflation did not begin until Trump left office. Worldwide economies do not react quickly. It will take a year minimum for something as serious as even a pandemic.

You failed to find one Biden program that could have caused inflation and if they did they refue your claim about the US economy being "self reliant". When the whole word shares the same inflation as the US the cause is bigger than the President. By the way, I used the same reasoning to defend the "Bush" recession. Bush was not the cause of that recession though many liberals wanted to blame him.

So you give Biden a “pass”. Well, your opinion is in the minority, even among Democrats. https://www.uspresidentialelectionn...democrats-blame-biden-policies-for-inflation/

 

[Subduction Zone]

So you give Biden a “pass”. Well, your opinion is in the minority, even among Democrats. https://www.uspresidentialelectionn...democrats-blame-biden-policies-for-inflation/

On this, of course. I even give Trump a pass and he would be more likely to be the guilty party.


And yes, when it comes to economics there are a lot of ignorant people out there. That is why Republicans get elected occasionally.

And your source may be correct but it is far from reliable. Why not do the extra work and see if a reliable source carries the same story.

 

[sun rise]

Down to “only” 8.3% is not much to cheer about. Real income is also down. The core CPI is at 6.3%. Which means that inflation will continue going forward.

The Fed is slamming on the breaks hard so that will change. And many other nations have it worse. There are many causes from the Ukraine-Russian war, China COVID lockdowns increases in the monkey supply and so forth.

I'm fully invested in TIPS and will put some cash into other inflation hedges but want the inflation rate down.

 

[Subduction Zone]

The Fed is slamming on the breaks hard so that will change. And many other nations have it worse. There are many causes from the Ukraine-Russian war, China COVID lockdowns increases in the monkey supply and so forth.

I'm fully invested in TIPS and will put some cash into other inflation hedges but want the inflation rate down.

That must be due to all of the visits that Joe Biden made to those other countries.

 

[Altfish]

NEW YORK -- The Dow Jones Industrial Average sank more than 1,250 points Tuesday, its steepest sell-off in more than two years, after a government report showed that inflation is maintaining a surprisingly strong grip on the U.S. economy.

The S&P 500 sank 4.3%, its biggest drop since June 2020. The Dow fell 3.9% and the Nasdaq composite closed 5.2% lower. The sell-off ended a four-day winning streak for the major stock indexes and erased an early rally in European markets.

Bond prices also fell sharply, sending their yields higher, after a report showed inflation decelerated only to 8.3% in August, instead of the 8.1% economists expected.

Markets shudder on dashed inflation hopes; Dow falls 1,250

It is a worldwide phenomenon; Europe is the same.
The war in Ukraine is the main cause

 

[sayak83]

NEW YORK -- The Dow Jones Industrial Average sank more than 1,250 points Tuesday, its steepest sell-off in more than two years, after a government report showed that inflation is maintaining a surprisingly strong grip on the U.S. economy.

The S&P 500 sank 4.3%, its biggest drop since June 2020. The Dow fell 3.9% and the Nasdaq composite closed 5.2% lower. The sell-off ended a four-day winning streak for the major stock indexes and erased an early rally in European markets.

Bond prices also fell sharply, sending their yields higher, after a report showed inflation decelerated only to 8.3% in August, instead of the 8.1% economists expected.

Markets shudder on dashed inflation hopes; Dow falls 1,250

A global pandemic and a major war in Europe, no less, will always cause inflation. US economy is strongly coupled with European economy. So this is expected.