Wall Street AND Main Street Going Down in Bidenomics Flames

Peter Navarro’s Taking Back Trump’s America

GET THE TRANSCRIPT AND FIGURE CITED IN THE PODCAST AT WWW.PETERNAVARRO.SUBSTACK.COM

Hi. Peter Navarro here with my weekly economy and market wrap for the week ending September 22, 2023. Just seven days ago, I warned that bearish market forces were steadily gaining the upper hand; and for the last six weeks I’ve similarly warned that the US stock market, as best measured by the S&P 500 was stuck in a trading range, with the growing likelihood of a bearish reversal and significant market correction.

For these last six weeks, the S&P 500 has indeed fallen five of the six weeks; and this week’s action marked one of the worst of these weekly bearish mauling’s. For the week, the S&P 500 fell 2.9% and the NASDAQ dropped 3.6%, the biggest drop for both indices since March.

I will take a deeper cut at what is going on in my next substack and podcast post on Monday; but for now, here’s the basics.