Asian markets tumble and the pound slumps as Britain's economic plan startles investors.

Markets tumbled on Monday, extending last week’s losses as rattled investors continued to worry about the prospects of a global recession triggered by higher interest rates, energy shortages, and spiking inflation.

Stock markets in Japan and South Korea dropped more than 2 percent at the open of trade on Monday, while the pound briefly crashed to a $1.03, a record low against the dollar. By midday in Seoul, sterling had rallied to about $1.05, hovering around its weakest level since 1985.

Last week, central bankers around the world, from the United States to Sweden to Indonesia, raised interest rates to combat stubbornly high inflation. Stocks nose-dived, government bond prices plummeted, oil prices slumped, and cryptocurrencies wobbled.

On Friday, the markets were further spooked by a sudden policy change from Britain’s new prime minister, Liz Truss, on how to fix its ailing economy. Already struggling with volatile energy prices and soaring inflation, her new government is betting that tax cuts, deregulation and other hallmarks of free-market economics will pull the country out of its economic slump.



https://www.nytimes.com/live/2022/09/25/business/economy-news-inflation-stocks#asian-markets-tumble-and-the-pound-slumps-as-britains-economic-plan-startles-investors

Can anyone recommend a decent financial publication?

I will die before I give one penny to the Murdochs so I was wondering if anyone can recommend a trustworthy financial publication or website. Thanks!

Dow Jones Futures Fall As Yields Rise, Pound Dives To Record Low; Bear Market Eyes New Leg Down

Dow Jones futures fell slightly Sunday night, along with S&P 500 futures and Nasdaq futures, as Treasury yields rose and the British pound plunged to a record low.

The stock market suffered heavy losses yet again in the past week as a hawkish Federal Reserve sent Treasury yields soaring yet again. The Dow Jones undercut June lows on Friday with the other major indexes getting close. The final growth leaders started breaking down.

With the market correction intensifying, it's a time for investors to be on the sidelines, but looking for potential leaders. Some medical stocks are showing relative strength, including Eli Lilly (LLY). Chinese e-commerce giant Pinduoduo (PDD) is pulling back somewhat calmly. Apple (AAPL), Tesla (TSLA), Enphase Energy (ENPH) and Albemarle (ALB) are coming under increasing pressure, but are still worth watching for the future.

Tesla stock, Enphase Energy and Albemarle are on the IBD 50. Enphase and ALB stock are on the IBD Big Cap 20. Eli Lilly was Friday's IBD Stock Of The Day.

https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-bear-market-eyes-new-leg-down-apple-eli-lilly-show-relative-strength/

Tweet of the Day

House GOP Will Try to Impeach Biden If They Win Control

Rep. Nancy Mace said Sunday that some Republicans are thinking about impeaching President Joe Biden if they take over the House chamber following the midterm elections.

"I believe there’s a lot of pressure on Republicans to have that vote and put that legislation forward," Mace, R-S.C., told host Chuck Todd on NBC's "Meet the Press."

Mace added that if the impeachment vote happened, it would be "divisive," and that the House needs to work together.

She also said she would back whomever the GOP nominates, including former President Donald Trump.





https://www.usatoday.com/story/news/politics/2022/09/25/nancy-mace-republicans-vote-impeach-biden/8114859001/?utm_source=feedblitz&utm_medium=FeedBlitzRss&utm_campaign=usatodaycomwashington-topstories

What are you streaming these days?

Cassian Andor - Disney Plus
She Hulk - Disney Plus
Dr. Who - HBO MAX
House of the Dragon - HBO MAX
Reservation Dogs - Hulu
Welcome to Wrexham - Hulu
Abbott Elementary - Hulu
Rings of Power - Amazon
See - Apple Plus
Pantheon - AMC Plus
The Undeclared War - Peacock
The Serpent Queen - Starz


And I am VERY behind.

What are you streaming these days?

Cassian Andor - Disney Plus
She Hulk - Disney Plus
Dr. Who - HBO MAX
House of the Dragon - HBO MAX
Reservation Dogs - Hulu
Welcome to Wrexham - Hulu
Abbott Elementary - Hulu
Rings of Power - Amazon
See - Apple Plus
Pantheon - AMC Plus
The Undeclared War - Peacock
The Serpent Queen - Starz


And I am VERY behind.

Tweet of the Day

Democratic-Allied Group Pours $60 Million Into State Legislative Races

A Democratic-aligned group is investing nearly $60 million in state legislative races in five states, a significant sum in an often overlooked political arena where Democrats have struggled for decades.

The group, the States Project, said it was focusing on flipping a single seat in the Arizona State Senate that could swing it to Democratic control and on winning back both chambers of the Michigan and Pennsylvania Legislatures. The group also aims to defend Democratic majorities in Maine and Nevada.

The large infusion of cash from the States Project amounts to a recognition of the critical role that state legislatures play in American politics, orchestrating policy on abortion access, what can be taught in schools and other issues that animate voters. In every state except Minnesota, Virginia and Alaska, a single party controls both chambers.

https://www.nytimes.com/2022/09/23/us/politics/state-legislature-races.html

Biden Makes an Appeal on State Legislative Races

President Biden became involved in state legislative races for the first time, with an email Friday asking Democrats to each donate the modest sum of $7 to his party’s campaign arm for statehouse elections.

And, following his Sept. 1 speech lashing “MAGA Republicans,” Biden is framing the stakes as a battle for American democracy, coupled with a bread-and-butter message about inflation, an issue that has bedeviled his presidency and given Republicans hopes of a red wave in races all the way down the ballot.

“State legislatures are the key to stopping Republican abortion bans, attacks on L.G.B.T.Q.+ rights, bills that undercut our democracy by making it harder for people to vote,” Biden wrote in the email, which was sent to the Democratic Legislative Campaign Committee’s mailing list. “Not just that, state legislatures are essential — I mean it, essential — to lowering prices for American families and building an economy that works for everyone.”

Biden’s email, which the White House had been working on for weeks, comes as Republicans warn that they are being outspent in state legislative races. It’s a noteworthy shift in messaging for the traditionally chest-thumping G.O.P., and therefore revealing regardless of what the numbers actually tell us.



https://www.nytimes.com/2022/09/23/us/politics/biden-state-legislative-fundraising.html