Global slowdown tests Biden as midterms loom
The Week In Review outlines how a slowing world economy from Russia’s invasion of Ukraine and pandemic disruptions in China pressures the U.S. economy and political dynamics. Economists note some insulation from energy price shocks yet rising gas costs and inflation still affect voters and may influence House and Senate outcomes.
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Bear market warning lingers as prices slide across indices
Investors weigh a potential bear market as the S P 500 nears 20 percent declines from its early January high. The Nasdaq sits in a bear market with a 29 percent drop, while the Dow is about 14 percent lower. Recent sessions saw the Dow plunge 1,100 points and the S P 500 shed 4 percent and the Nasdaq 4.7 percent in a single day.
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Biden moves to ease US baby formula shortage
The administration reopens the largest domestic plant and expands imports to alleviate a nationwide shortage. FDA streamlines foreign shipments and Abbott prepares to restart its Sturgis Michigan plant within eight to ten weeks, after a February contamination shutdown. Biden also invokes the Defense Production Act to prioritize formula suppliers.
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Weekly Stock Winners and Losers Industry Rankings
iMoneyNet Inc provides weekly industry rankings highlighting top gainers and laggards across sectors. The report lists leading performers and declining groups, offering investors a concise snapshot of market leadership and weakness.
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