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Economic & Financial Meltdown Is Here – All Signs Lead To Recession - superadmin - 05-21-2022 Economic & Financial Meltdown Is Here – All Signs Lead To Recession, Stagflation, Jobless And A Repeat Of Dot-Com Bust Dow Jones dropped 1,164.52 points on Wednesday (May 18) – the biggest drop since June 2020. In fact, at 31,490.07, the DJIA saw the lowest close since March 2021. Likewise, the S&P 500 plunged to its lowest drop since June 2020. The fact that this is the fifth Dow decline of more than 800 points this year alone speaks volumes about the financial trouble ahead. On the same day, retailer Target reported a stunning 52% drop in quarterly profits. Its share price tumbled a whopping 25%, and the company blamed it on higher costs for fuel that caused a drop in demands for items like TVs. The results were consistent with Walmart, the American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores.   Walmart reported a similar poor earnings a day earlier, also cited higher fuel and labour costs. Walmart shares ended Tuesday lower by 11% (the worst one-day loss in 35 years) and dropped another 6.8% on Wednesday. Other retailers also took a hit – Amazon’s stock price dropped 7.2%, Best Buy’s stock price fell 10.5%, Macy’s stock price plunged 10.7%, Dollar General’s fell 11.1% and Dollar Tree’s declined 14.4%. - More -