The stock market continued its downward spiral on Thursday as the economy struggles to cope with Democrats’ reckless spending adding fuel to runaway inflation.
The Consumer Price Index (CPI), a key measure of inflation, increased by 8.3 percent in August compared to the same time last year and increased 0.1 percent from the previous month, the Bureau of Labor Statistics revealed on Tuesday.
After a promising start to morning trading, the major stock indexes turned sharply negative Friday with the S&P 500 tumbling into bear market territory and the Dow Jones Industrial Average setting up for the longest streak of weekly losses since the Great Depression.
Global stock markets are expected to continue hemorrhaging money as more heavy selling continues this summer while central banks around the world hike interest rates to try and combat spiraling inflation.
Stocks fell sharply in U.S. markets on Thursday morning, led by the technology and consumer discretionary sectors.
The Dow Jones Industrial Average fell by 1,100...