Stock market

2022 - 9 - 23

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Image courtesy of "Markets Insider"

Stock market news today: Dow sinks, S&P 500 hits closing low for ... (Markets Insider)

The Dow Jones Industrial Average lost 4.5% on the week, the S&P 500 gave up 5.2%, and the Nasdaq tumbled 5.5%.

[Gold](https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&utm_medium=ingest%3Futm_source%3Dmarkets&utm_medium=ingest&utm_medium=ingest&utm_source=markets&utm_medium=ingest&utm_source=markets)fell 1.8% to $1,650.90 per ounce. [10-year yield](https://markets.businessinsider.com/rates/u-s--rates-10-years?utm_medium=ingest&utm_source=markets&utm_medium=ingest&utm_source=markets)ticked 2.7 basis points lower to 3.681%. [Bitcoin](https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&utm_source=markets&utm_medium=ingest&utm_source=markets)slipped 2.7% to $18,809. [Oil prices dropped](https://markets.businessinsider.com/news/commodities/oil-prices-wti-brent-crude-recession-risks-federal-reserve-inflation-2022-9?utm_medium=ingest&utm_source=markets), with [West Texas Intermediate](https://markets.businessinsider.com/commodities/oil-price?type=wti&utm_medium=ingest&utm_source=markets)down 5.6% to $78.85 a barrel. [Brent crude](https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&utm_source=markets&utm_medium=ingest&utm_source=markets), the international benchmark, shed 4.7% to $86.24 a barrel. That underscored fears that a wave of rate hikes this week from the Federal Reserve and other central banks will snuff out economic growth. S&P Global's Purchasing Managers' Index, a broad gauge of economic health, dropped to 48.2 in September from 48.9 last month, showing that business activity contracted at a faster pace. [price cap on Russian oil](https://markets.businessinsider.com/news/commodities/oil-price-outlook-european-energy-crisis-russia-ukraine-vladimir-putin-2022-9?utm_medium=ingest&utm_source=markets)and it is likely to be included in new sanctions proposals. [cut natural gas exports by 40% over the next three years](https://markets.businessinsider.com/news/commodities/europe-energy-crisis-russia-natural-gas-flows-exports-cut-pipeline-2022-9?utm_medium=ingest&utm_source=markets), according to a Bloomberg report. [he stock market will soar into year-end](https://markets.businessinsider.com/news/stocks/stock-market-outlook-fundstrat-tom-lee-stays-bullish-despite-inflation-2022-9?utm_medium=ingest&utm_source=markets). [Dow Jones Industrial Average](https://markets.businessinsider.com/index/dow_jones?utm_source=markets&utm_medium=ingest%3Futm_source%3Dmarkets&utm_medium=ingest&utm_medium=ingest&utm_source=markets&utm_medium=ingest&utm_source=markets): 29,591.47, down 1.61% (485.21 points) [Nasdaq Composite](https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&utm_medium=ingest%3Futm_source%3Dmarkets&utm_medium=ingest&utm_medium=ingest&utm_source=markets&utm_medium=ingest&utm_source=markets): 10,867.93, down 1.8% [Goldman Sachs slashed its year-end forecast for the S&P 500](https://markets.businessinsider.com/news/stocks/stock-market-outlook-sp500-goldman-sachs-target-fed-rate-hikes-2022-9?utm_medium=ingest&utm_source=markets), and warned that the Fed's aggressive policy path will lead to further sell-offs in stocks.

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Image courtesy of "PBS NewsHour"

News Wrap: Fears of recession trigger stock market sell-off (PBS NewsHour)

In our news wrap Friday, a sell-off swept Wall Street and the world as rising interest rates intensify fears of a recession, counter-protesters marched in ...

In all, 46 states and the District of Columbia will offer the option of voting early in person this year. The protesters and rioters that took to the streets are not ordinary people. And back in this country, in person voting for the midterm elections has officially begun. The storm churned up rough seas and knocked out power as it passed to the west. and others charge that the votes are illegitimate and preordained to go Russia's way. Voting has begun in the Russian-occupied regions of Ukraine on whether to join Russia proper.

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Image courtesy of "MarketWatch"

Don't look for a stock market bottom until a soaring dollar cools down ... (MarketWatch)

A soaring U.S. dollar is wreaking havoc in markets. Analysts say it will be hard for stocks to find their footing until the currency cools down.

The Nasdaq Composite -1.72% [COMP,](/investing/index/COMP?mod=MW_story_quote)declined 1.8% for the week. The S&P 500 [SPX,](/investing/index/SPX?mod=MW_story_quote)dropped 1.7%. dollar Index +0.69% [DXY,](/investing/index/DXY?mod=MW_story_quote)on Friday rose to its loftiest level since 2002 and +1.50% [recorded the biggest weekly advance](https://www.marketwatch.com/story/dollar-set-for-biggest-weekly-advance-since-march-2020-2022-09-23?mod=mw_latestnews&mod=article_inline)since March 2020. dollar in relation to the French franc, the German Deutsche mark, yen and pound by intervening in currency markets. [fell to a 37-year low](https://www.marketwatch.com/story/pound-and-euro-slump-as-dollar-index-surges-to-highest-since-mid-2002-11663931131?mod=article_inline) against dollars on Friday, while euro dropped below $0.98 for the first time. “Until something breaks, probably in the credit markets, the Fed is going to stay hawkish,” Donnelly said. According to the Fed’s forecast, the unemployment rate will rise to 4.4% next year, which is 0.7% higher than the current unemployment rate. The greenback’s surge is also in part a result of currency carry trades, where investors borrow low-yielding currencies, such as Japanese yen, and convert them into high-yielding currencies, such as U.S. The U.S. The dollar’s continued rally comes as investors ditch assets viewed as risky as they look for havens amid fear of a global recession. Looking back, a strong dollar in tumultuous markets has been a fundamental sign of market stress since the early 2000s, Colas said in a recent note. dollar index soared to a two-decade high, with the greenback soaring versus rival currencies and sowing volatility across financial markets.

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