President Joe Biden faced another setback on Tuesday as the Dow Jones Industrial Average fell for the ninth consecutive day, marking the longest losing streak since Jimmy Carter’s presidency in 1978, CNN reported. The Dow finished the day down by 267 points.
If the Dow continues its downward trajectory for a tenth consecutive day under Biden, it would be the first such instance since the Gerald Ford administration in 1974, when the index dropped for 11 straight days, according to CNN.
The drop in the Dow came as investors focused their attention on the Federal Reserve’s policy announcement scheduled for Wednesday, with most anticipating a 25-basis-point interest rate cut.
Overall, since President-elect Donald Trump’s victory on November 5, the Dow has surged by 1,500 points.
Anthony Saglimbene, the chief market strategist at Ameriprise Financial, shared with CNN that there is a “modest reset in expectations around the risks and opportunities associated with the incoming Trump administration next year, and whether a Trump 2.0 policy agenda can spur the type of growth being priced in to stocks.”
{Matzav.com}
Bidenomics is clearly not working.
The real Biden must be turning in his grave from all the bogus reports written about him in the last 4 years.