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From Sputnik Agency – The Dow Jones index and the NASDAQ stock market recorded their worst decline since 2008, while the S & P 500 recorded its lowest level since 2011 Famous investor Peter Schiff commented on the "giant bubble"
Over the past seven days, the Dow Jones industrial average has fallen several times and, after a total loss of 1,655 points (6.8%) , recorded the largest decline since October 2008.
Following the announcement by the Federal Reserve (Fed) of the 0.25% rise in interest rates, which went from 2, 25% to 2.5%, the industrial indicator was affected, continuing its collapse. According to CNBC, on December 21, it lost 414 points at the close, for a total of 22,445.
During the week, the S & P 500 and NASDAQ also posted instability and closed with respective declines of 7% and 8.3%.
On Friday, the S & P 500 closed the day with a loss of 2.1% to 2,416, while the NASDAQ was at 6,332 after a fall of 2.99%, its lowest level since "I see the US economy implode and we are facing many problems, "Schiff said.
The investor badured that the new crisis would be even worse than the previous one because the economy would not be able to cope with the situation.
"Markets are starting to collapse as debt becomes more expensive." We have built this giant bubble on an unprecedented amount of cheap money and quantitative easing, and the hangover will be a lot worse, "he said 9659009] I support the 247" title = "I support the 247" style = "width: 100%; margin: 10px 0 10px 0;" />
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