(PresidentialInsider.com)- The American economy is doing so badly under the Biden administration that even the Asian stock markets are starting to retreat. According to a report from the Associated Press, Asian stock markets began to drop on Wednesday as investors look to the United States and worry that inflation is picking up drastically.
While Hong Kong’s markets advanced, Tokyo, Shanghai, and Southeast Asian markets all decline. It came as Wall Street’s S&P 500 index lost 0.9% on Wednesday night as concern about inflation grew amidst a gas shortage and rapid rise in consumer prices.
A price rise in industrial materials including crude oil and copper have played a role in the Asian stock market woes.
According to Anderson Alves of ActivTrades, who published a report on this week’s shocking data, the “Asian equities traded sideways following a lackluster session on Wall Street, where risk sentiment prevailed amid inflationary concerns.”
President Joe Biden could be about to plunge the United States into a 2008-style recession…with Zimbabwe-style inflation…
Alves added that the new data are “essential for investors worldwide as U.S. markets are the primary benchmark for risk assets globally.”
“The Shanghai Composite Index lost less than 0.1% to 3,439.57 while the Nikkei 225 in Tokyo fell 0.6% to 28,439.52. The Hang Seng in Hong Kong advanced 0.5% to 28,016.71,” the AP reported.
Meanwhile, the Kospi in Seoul dropped by 1.6% and the S&P-ASX 200 in Sydney dropped 0.6%. New Zealand also saw declines in its market.
Commodity prices for industrial metals are on the way up and big technology firms saw significant declines in their stock prices.
And while the Federal Reserve said that the U.S. economy would “run hot” as we recover from the COVID-19 pandemic, meaning productive capacity will not be able to maintain pace with growing demand. Something that President Biden and the Democrats aren’t helping with by continuing to provide massive unemployment benefits.
Just how badly is this going to end?