Stock in the Mud
Plus: This Week's Featured Place: Washington, DC
Inside this Issue:
Share Bears Everywhere: Another Bleak Week for Stocks
The Prices Crisis: Inflation Somewhat Abates, but Hardly Enough to Stop Raising Rates
Travails from the Crypt: Blockchain Pain in Crypto-Land
Sore Arms: Weapons Makers Not Immune to Supply Chain Pain
Fannie Are You O.K.? The Latest from a Mortgage Market Goliath
Past Words: An Effort to Make Passwords Extinct
Vertical Disintegration: A Unique Theory on Why Productivity’s Been Dreary
And This Week’s Featured Place: Washington, DC, Capital Chill
Quote of the Week
“Every part of our business has been impacted by inflation. We experienced higher costs across our supply chain for all inputs from feed ingredients, live animals and other raw materials to cooking oils and basic supplies. We're also managing higher cost of labor and transportation due to robust demand, higher fuel costs and limited availability.
- Tyson Foods CEO Donnie King
Yesterday, all their troubles seemed so far away. Now, investors are caught in a storm.
nce again, stock prices dropped last week, dragging the S&P 500 index down 13% from where it was in late March, and 4% below where it was this time last year. The tech-heavy Nasdaq Composite index is down nearly 30% from its highs last fall. The bloodbath is gorier still for pandemic darlings like Netflix, PayPal and even Moderna. What was hot in 2021 is cold in 2022. The party, alas, is over. A bubble now popped. Investors now nursing their wounds.