(Natural News) The Obama sycophants running Dementia Joe Biden’s regime, as well as fellow Democrats in Congress, are continuing to destroy the magnificent economy Donald Trump and Republicans built through a series of America First policies and tax cuts.
On Tuesday, the Dow Jones Industrial Average tanked more than 1,200 points following yet another disastrous inflation report — inflation, by the way, that Biden and Democrats say isn’t happening.
“The Dow Jones Industrial Average slid 1,244 points, or 3.8%. The S&P 500 dropped about 4.2%, and the Nasdaq Composite sank 5%. It was the worst day of the year for all three averages. More than 490 stocks in the S&P 500 fell, with Facebook-parent Meta dropping 8% and Caesars Entertainment losing 7.3%,” CNBC reported around the time the markets closed for the day. “The drop erased nearly all of the recent rally for stocks, pulling the S&P 500 back toward its Sept. 6 close of 3,908 and causing some traders to glance back at mid-June, when the index fell below 3,700.”
UBS director of floor operations Art Cashin said of the day’s activities during an appearance on CNBC‘s “Squawk on the Street” in the afternoon: “I think we may even go back and retest the June lows. Certainly the 3900 is just so tempting, and you’re pulling back below the 50-day moving average here. It’s very much about the technicals. It’s not so much that the one number made the economy go topsy-turvy. It meant a lot of guys who were making preliminary favorable bets got caught off base.”