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just in time for travel season. inflation is higher overall thanes within decades. baby formula is hard to find. the economy added more than 400,000 jobs last month and the unemployment rate is at pre-covid levels. let s try to figure out where we are right now. we begin with christine romans. it seems like there s nothing but storm clouds on wall street. there is so much going on and so much chaos, really. i keep saying there are so many cross currents in the global economy, any one of them would be destabilizing. there s a half a dozen. you talked about the higher prices, the chip shortage, covid lockdowns in china. war in ukraine. war in ukraine and that s going to be a big dpeel some time. that means energy prices. for investors if you re looking at your 401(k), you know this. eight weeks in a row, the longest losing streak for the dow since the 20s. that s not great. the nasdaq stocks just hammered. you look at apple, meta, some of these widely held stocks. ....
The big eight tech stocks are about half of the stock market. what started the downturn in all the tech stocks? well, they are really susceptible to higher interest rates. they are a high growth stock. they re susceptible to higher interest rates and the fed is rating interest rates and is going to have to rise interest rates to fight inflation and that leaves those tech stocks vulnerable. also, they had had a great couple of years so you re taking some froth off the market, i think. i want to really kind of put some perspective in it, though. if you re talking about the s&p 500 or the dow, those are blue chip stocks, if you re a buy and hold investor, that s what s in your 401(k). those are back to just about march of last year. so you ve lost 14 months of gains but you re still so you ve rewound the clock for about a year. for those in the stock market, it has been riding high for it seems like a decade really. is it a decade? yeah. several hundred percent since the l ....