The Federal Reserve's raising of interest rates could bring the economy "down," according to billionaire Ray Dalio.
In a recent LinkedIn post, the Bridgewater Associates founder said increasing interest rates to about 4.5% — meant to offset inflation — will cause stock prices to plummet by 20%.
Keading cryptocurrencies are not the only investments that are down in 2022, according to FTX CEO and co-founder Sam Bankman-Fried.
“Everything’s down this year because dollars are up this year,” Bankman-Fried told SkyBridge Capital founder Anthony Scaramucci at the SALT Conference this week.
Tuesday marked the worst day of the year for the broader markets.
Market indices fell sharply after August CPI readings showed inflation came in hotter than expected.
Investors who placed their hard-earned cash into major U.S. indices have enjoyed respectable returns since fall 2018. The S&P 500, Nasdaq-100 and Dow Jones Industrial Average have returned 46.09%, 74.50% and 30.23% respectively.
Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.
What Happened? On this day in 1987, the Dow gained 100 points in a week for the first time.
Where The Market Was: The Dow Jones Industrial Average closed at 2,700.57 and the S&P 500 traded at 334.11.