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Stocks Fall Into Bear Market - Lose Over $7.6 Trillion in Value Under Biden

  • by:
  • Source: Bongino
  • 09/27/2022
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On Joe Biden's watch, the Dow Jones Industrial Average has fallen into a bear market for the first time the start of the COVID pandemic. 

Yesterday the Dow closed down 329.6 points to 29,260.81, it's fifth day down in a row, and enough to officially put it in bear market territory (defined as a drop of 20% from a more recent high). The Dow is down 20% on the year, beginning 2022 at over 36,500, and is lower than where it was when Biden took office. 

The S&P 500, which tracks the performance of 500 large companies (compared to the Dow's 30), closed at a record low for the year yesterday, and was down nearly 24% on the year. The tech-heavy NASDAQ has shedded the most value of any major index - and in total, stocks are down $7.6 trillion in value since Biden took office. 

And if the consumer price index is to be believed, stockholders are down an additional 13% on their remaining capital once adjusting for inflation, which has reached historic levels on Biden's watch. 

Matt Palumbo is the author of The Man Behind the Curtain: Inside the Secret Network of George Soros
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Photos by Getty Images

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