from Hacker News

The S&P 500 fell 3.8 percent in afternoon trading

by margotli on 5/18/22, 6:39 PM with 11 comments

• by incomingpain on 5/18/22, 7:02 PM

  Nasdaq is -27% YTD.

  S&P500 is -17% YTD.

  The actual problem seems to be isolated to the USA. Tons of confidence in Canada and Europe. There's still exposure of companies who are involved in the USA while being listed in not-usa. So Canada and Europe will be dropping.

  I see probably another -20% drop for S&P500 still coming. This is already worse than financial crisis and dotcom combined in terms of wealth lost.

• by paulpauper on 5/18/22, 7:14 PM

  it wasn't down that much until starting in early April. then things entered freefall. something changed. it wasn't inflation. Inflation was already in the news since early 2021.

• by streetcat1 on 5/18/22, 7:36 PM

  Its looks like the FED lost control of the long term (10-30) years interest rate. I think that the market is concerned that this is designed. Usually the Gov balance the FED, but it looks like nobody care from the gov side. I.e. the gov actually encourage the wealth destruction.