No Soft Landing for the Economy David Alan Carter
The month started out swimmingly. The first few days in September saw a promising upswing with the S&P 500 posting a gain of a few percentage points by the 12th. Perhaps investors were giddy with gas prices falling at the pump and demand for real estate beginning to taper.
Inflation licked? Not quite.
One day later, a hotter-than-expected report on inflation sent the stock market reeling. The Dow lost more than 1,250 points and the S&P 500 sank 4.3%. Bond prices also tumbled, sending yields sharply higher.
The month started out swimmingly. The first few days in September saw a promising upswing with the S&P 500 posting a gain of a few percentage points by the 12th. Perhaps investors were giddy with gas prices falling at the pump and demand for real estate beginning to taper.
Inflation licked? Not quite.
One day later, a hotter-than-expected report on inflation sent the stock market reeling. The Dow lost more than 1,250 points and the S&P 500 sank 4.3%. Bond prices also tumbled, sending yields sharply higher.
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