Nasdaq 100 down 5.5% intraday, approaching bear market threshold.
Macro & Markets ·
US consumer prices have climbed 31.3% since April 2020 while average hourly earnings rose 25.9% over the same period, leaving wage growth trailing inflation by more than 5 percentage points. The consumer price index has remained above the Federal Reserve's 2% target for 67 consecutive months, representing the third-longest such streak in the past century, with only two prior periods exceeding this duration—one of 242 months ending in 1986 and another of 128 months ending in 1997. The sustained gap between price increases and wage growth has diminished purchasing power for American consumers since the pandemic.