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away from 20% of the highs, definition of a bear market. welcome. i m neil cavuto. this is your world. it was a selling world all this week amid concerns that inflation is rocketing, the fed is hiking rates and the economy could be slowing dramatically. its been so weird this week. because remember the reaction the markets had to news that jerome powell at the federal reserve was going to start aggressively hiking interest rates. a 75 basis point hike earlier this week. the highest since a fellow named bill clinton was in the oval office in 1994. that was then. concerns that he will have to do more of that right now. doesn t jackie deangelis know it. taking a look at the week that is now done. jackie? good afternoon, neil. even with this mixed picture at the close today, it was a sell button dominated wall street week. take a look at the major three averages. it was a sea of red. year to date, the markets have been pummeled. the dow and the s&p 50 oh sorry. the na ....
Averages. it was a sea of red. year to date, the markets have been pummeled. the dow and the s&p 50 oh sorry. the nasdaq and the 500 in bears market. the dow was approaching that level as well. we ll be watching for that in the weeks to come. the story is about how to tame 8.6% inflation. the expectation is inflation will remain at these levels the next few months at least. jerome powell raised rates mid week. first thought that they were going to use the tools to cool it off and then the reality hit of a recession. it s already having an impact. listen. gas prices are just hard right now. very hard. hard to pay my bill. ....
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