The global stock market experienced a significant drop from Sunday into Monday, with the DOW Jones plunging over 1,000 points. Wall Street’s “fear gauge” spiked to its highest level under the Biden-Harris administration, and Bitcoin saw a steep decline. Former President Donald Trump criticized the Biden-Harris administration for the market turmoil, coinciding with unemployment rising to 4.3%, the highest rate since October 2021.
According to CNBC, the CBOE Volatility Index (VIX), known as Wall Street’s “fear gauge,” reached its highest point since the onset of the COVID-19 pandemic in April 2020, breaking 50 on Monday morning. The VIX had been trading below 20 since the pandemic. The DOW Jones futures market tumbled over 1,000 points, highlighting the increased market volatility.
Trump took to Truth Social, stating, “Stock markets crashing. I told you so!!! Kamala doesn’t have a clue. Biden is sound asleep. All caused by inept US leadership!” Before the 2020 election, Trump had warned that the economy would crash if Biden were elected president.
Bitcoin fell below $50,000 for the first time since February, after trading close to $70,000 just a week ago, according to CNBC. Additionally, Robinhood’s 24-hour trading service was disrupted amidst the market chaos.
The turmoil followed a July jobs report indicating the highest unemployment level under the Biden-Harris administration since October 2021. The Federal Reserve announced it would not be cutting interest rates, with Jerome Powell stating that the central bank needs more data to confirm that inflation, which has affected the US economy, is declining.
I’m not understanding why anyone would support any digital currency?
Anything digital can be manipulated or taken by thieves and controlled by Treasonous infestation in government and their puppets in the banking and credit card companies.