The Big Drop
The markets prepare for another bumpy day after a stunning selloff yesterday.
Despite a partial rebound, the Dow fell over a thousand points yesterday. It was a fall of more than four and a half percent, but it was the largest point drop ever, wiping out all gains for the year so far. The drop came the same day a new fed chair, Jerome Powell, was sworn in. The markets had been soaring high in recent months, with wages going up and stocks on a tear. But there are fears that everything is overheating which can lead to inflation, and that the federal reserve will raise interest rates to try to rein it all in. The White House has been keeping a close eye on the numbers. Adding to the uncertainty is the potential for a government shutdown this week.