The numbers just keep falling…that is the number that represents President Joe Biden’s approval rating and the number that represents the Dow Jones Industrial Average.
Both numbers have to do with the job being done through this present White House administration.
The stock market experienced a massive drop this past week as oil per barrel crossed the $100 threshold. This coincided with Putin’s troops invading the nation of Ukraine.
MarketWatch reported that the Dow Jones Industrial Average opened with a loss of more than 800 points. It reached the low level of about 32,300 with means a drop of approximately 2.4 percent. The S&P 500 was not any better. It opened with a loss of approximately 100 points registering at 4,100. This indicates about a 2.5 percent drop. The Nasdaq opened down 500 points at 12,600, which registers at a 2.9 percent decrease.
While the stock market and the president’s approval were going down, oil prices were going up. This was true about both U.S. and global standard oil. They both went and approved the $100 a barrel amount this week. The West Texas Intermediate Crude price is the standard for U.S. oil prices. It rose to a threatening $100.39 per barrel. The Brent price is the global standard, and it soared up to $105.60 a barrel. These numbers are according to Markets Insider.
Meanwhile, as Americans are paying even more at the pump, it’s causing Biden’s approval rating to drop. It’s classic cause and effect…
But, what’s causing the drops? Well, there are a number of factors. Tune in tomorrow to learn more about the potential financial crisis that could occur.