Chip stocks had their worst week since 2006. AI companies are now tanking, the one sector that was propping up the markets since Trump took office was Ai and chips and memory, they're all tanking
Bank stocks their worst week since 2008.
Brent crude oil hit 110 a barrel
Despite all of Trumps efforts to lie diesel prices down, diesel went up 25 cents. If you watch Mr Global, he said the amount of diesel Trump allegedly got from Russia was like 18 minutes worth of diesel, the amount to come is also trivial.
Ohio cut their gas tax until after the election a gas tax holiday, after it initially dropped the price, a refinery in Illinois had an unscheduled downtime and boom, the gas went back up to almost where it was before the gas tax holiday. Ohio folks are up in arms. The Trump admin is claiming Illinois did it on purpose to hurt Trump.
And the kicker, once again the bet is now that the fed will RAISE rates next time.
Experts are projecting mortgages to hit 8% soon, about 7.5 now and some experts think we could hit 10 by the end of the year.