On September 13, local time, the three major U.S. stock indexes plummeted across the board. As of the close, the Dow Jones Industrial Average fell 1276 points, or 3.94%, the S&P 500 fell 4.33%, and the Nasdaq Composite fell 5.16%.
Biden: The stock market does not necessarily reflect the overall economic situation of the United States
On the same day, US President Biden said that the stock market that fell sharply due to inflation concerns that day does not necessarily reflect the overall economic situation. He said he was not worried about the inflation data released on that day.
Biden also said that overall, prices in the United States have been basically the same in the past two months, which is good news for American families. However, it will take more time and determination to lower inflation in the United States.
The U.S. Department of Labor released data on the same day, showing that the U.S. Consumer Price Index (CPI) rose 8.3% year-on-year in August this year. Analysts believe that the high year-on-year growth rate of CPI has once again exacerbated the market's concerns about Feder continuing to aggressively raise interest rates, and investor sentiment continued to be under pressure on the same day.
Producer: Wei Jing
Editor-in-chief: Yan Guanchao
Review: Shi Heyi
Editor: Weishuli
Source: CCTV News Client
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