Three major crises are happening here in the United States and affecting around the world. Include Widespread Baby formula shortage, High inflation as well as High Gas Prices, and Bear markets...
Baby Formula Shortage đŒ
America's largest manufacturing plant was shut down in February over safety concerns and it won't be able to reopen for at least another week. United States President JoeBiden says his administration is working around the clock to get it to people in need. But critics say that the administration waited too long and moved too slowly in taking action.
High Gas Prices đ°
In the United States, fuel is at its highest price ever. The AAA Automobile Association says the latest record for a gallon of gasoline was set on Sunday at more than $4.59 per gallon on average.
Tilden News Network economic teams are correcting the price of gas from the nearest gas station in Tilden MS and updating weekly on TNN's economic online page. The prices a few days ago were over $4.5 for the majority of gas stations... âGas prices tend to increase when the available supply of gasoline decreases relative to real or expected gasoline demand or consumption. Record-high gas prices make it difficult to recover for the economy...
Bear Makets đ”
A bear market happens when stock prices drop for a sustained amount of time. So far, this year has not been a good one for the economy because the high inflation, rising interest rates, and global instability worries about a possible recession are now affecting major indexes like the Dow Jones and S&P 500 (It tracks the stocks of large 500 American companies).
Last Friday, the S&P 500 temporarily sank into the territory of a bear market, prices in a market declined by more than 20%.
Have a nice day đ,
TNN Economic team
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