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Markets are worried the fed is going to slow the economy right into a recession. either accidentally or on purpose because that s what s required to get inflation under control. these recession fears are playing out on wall street today, the dow down 620 points about 2% as we speak. earlier today the dow hit its lowest point of the year and is flirting with closing in a bear market for the first time since march, 2020. a bear market is a 20% decline from previous highs. even some optimists are throwing in the towel. goldman sachs today sharply cutting its outlook for the u.s. stock market because of these concerns about the fed and high inflation. one of the worries here is the fed is moving so quickly even though it takes time. it takes months for the full impact of the interest rate hikes to be felt in the economy. bank of america put out this great report summing this up. they said, the fed is hiking at the fastest pace in recent ....
Have a fox news update on facebook watch. it s a minute s long news cast online with unique content that streams live on the facebook watch home page a few minutes from now. once it s over, it s available on demand. neil cavuto, your world next. neil: it s happening again. more violent protests in hong kong as riot police were using tear gas to clubs to disperse crowds upset with china s growing dominance. all of this as the president is trying to jump start trade talks with china. the two go a long way deciding whether the talks succeed or china erupts. welcome. i m neil cavuto, this is your confusing world food. none of this we should stress impacting the markets. the dow hit its highest level ever. the s&p closing out at a record as well believing that cooler heads will prevail, this ....
Of news, which relates to what the president was saying, the inflation status came in half of what they were expecting. that is inflation is only growing half as much as what the economists said it would. what that means is that your dollar, your paycheck is worth more than economists thought it would be. you can buy more when inflation is down, and secondly, more likely to raise rates. sandra: just last week, the dow hit an all-time high. the second die we see this big of a sell-off after this record, people get nervous. it doesn t necessarily mean it is warranted. look at that number. 25,000. 25,421. it was around 18,001 donald trump was elected president. so that is about a 35-40% rise still. so don t be so also, if you put it in perspective sandra: why does it keep ....
But if he can pull this off, maybe he does get a nobel peace prize because we ve made more progress with north korea than obama. you and i work together at the wall street journal. maybe he won t get the nobel peace prize, but i think you and i can agree he deserves the nobel economic prize. he s on the edge of economic dismay if he puts out these tariffs. dow hit 25 thousand today we re going live to hawaii where the kilauea volcano is spewing at residents. look at that. thanks, gentlemen. we ll be right back. ....
Billion trade deficit with china, it s not, it s $375 billion. so he s not really handling this. this requires a scalpel and he s using a sledge hammer. but he is right, china does need to be dealt with from a trading perspective. i want to ask you about this economy. just tonight i was made aware of the list of the top ten single day point drops on the dow. a bunch of them are from the housing crisis, financial crisis in 2008. four of the top ten all-time single day point drops have been in 2018, under donald trump. what s that about? part of it is because the dow is as high as it is. this has been going on since 2009. it was march 9th of 2009 that the dow hit its bottom. it was about 9,000 points. so we have gain sod much that a day like today, 700 points. when i was younger and had hair, 700 points, people would be jumping out of windows. it is 2%. if you look at it from a percentage basis, we re not ....