- Stocks sank on Monday as protestors in China and hawkish comments from Fed officials weighed on the market.
- Unrest over China's zero-COVID policy could exacerbate supply-chain issues, which are partly responsible for rising inflation.
US stocks sank on Monday as protests in China and hawkish comments from Fed officials weighed on the market.
Anger over China's zero-COVID policy has sparked turmoil across the nation, with protests threatening to exacerbate supply-chain issues in the global economy. Experts say the $4, as supply-chain issues have been a major driver of high prices so far.
$4 as unrest broke out in a iPhone factory in Zhengzhou, and the tech giant will have to navigate the possibility of "brutal" shortages into the holiday season, Wedbush warned.
St. Louis Fed President James Bullard expressed more hawkishness on the Fed's inflation fight, noting the central bank still had "$4 enough to tame inflation. He estimated the Fed would raise rates to 5%-5.25%.
Here's where US indexes stood as the market closed at 4:00 p.m. on Monday:
- S&P 500>$4: 3,963.95, down 1.54%
- Dow Jones Industrial Average>$4: 33,849.46, down 1.45% (497.57 points)
- Nasdaq Composite>$4: 11,049.50, down 1.58%
Here's what else is happening:
- $4 from its market value as investors grow anxious over iPhone shortages, according to Wedbush.
- $4 against economic headwinds, and any recovery will be sluggish despite policy support from the government, UBS warned.
- $4, the latest crypto lender to succumb to the contagion of FTX's collapse.
- $4, and investing in crypto is "dangerous," according to billionaire Mark Mobius.
- $4 by mid-2024, according to Deutsche Bank.
- $4 into other areas of the economy and weigh on sectors like manufacturing, according to one Solus strategist.
In commodities, bonds, and crypto: