Live Breaking News & Updates on Dow On Friday Closing
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john berman is off. hurricane ian now churning in the caribbean with 75 mile an hour winds. the storm s path is uncertain and that has all of florida preparing for a major hurricane. people are waiting in long lines outside of stores. they are looking to stock up on supplies while they can. essential items like bottled water flying off store shelves. residents are prepping homes and business bes for the heavy rain, strong winds and storm surge expected to come their way. ron desantis already declaring an emergency for the entire state activate ing the national guard and a hurricane watch has been issued along the west coast of florida including the tampa bay area. carlos swau resident is watching preparations. we have chad myers standing by in atlanta. let s start with carlos who are is live for us near a sandbag distribution center. tell us about some of these preparations. reporter: good morning the storm preparations are well underway. schools have been closed th ....
2020. for the dow, that s two years of gains wiped away. and there s a bit more could be coming. goldman sachs analyst cut the bank s target by 16%, all the d way down to 3600. and you re already seeing stock investors reeling, home buyers reeling too. mortgage rates have more than doubled. they are reaching almost 6.3%. that adds hundreds of dollars to the cost of buying. the same mortgage a year ago for the same house a year ago if you bout it now, it would be $700 more a month. so more expensive for anyone who b borrows money, no one is spared there. not even maybe workers here. this headline when you dig into the fed projections that we saw last week, it makes it clear the fed will tolerate maybe even desire, a higher jobless rate to ....
Pain. looks like no one is going to be spared here. lits bring in christine romans. we may not be spared, but any glimmer of hope? i m calling it a take no prisoners economy. the investors, home buyers, car buyers, companies, maybe even workers, no one is spared here for now. this is in the global fight against inflation. central banks are jacking up interest rates. no end in sight there until high inflation is vanquished. the fed has done it five times. the fed chief himself acknowledging the fed s medicine will be painful for everyday americans, for consumers, even workers. he says i wish there was a painless way to do that. there simply isn t. wall street finally seems to believe him here that more pain is come ing. wall street saying this could invite a recession. brutal stock market losses this year, bear markets for the s&p 500 and for the nasdaq. the dow on friday closing at the lowest level since november ....