plummets

Opinion: Household wealth plummets by $13.5 trillion, second-worst drop on record

Opinion: Household wealth plummets by $13.5 trillion, second-worst drop on record

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US households lost an estimated $6.8 trillion in wealth in the first three quarters of 2022 as the SPX stock market, -0.73% DJIA, -0.90% COMP, -0.70% has lost more than 25% of its value, the Federal Reserve reported Friday in the government’s quarterly financial accounts. Nominal net worth fell 4.6% to $143.3 trillion, as the …

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Freight rates from China to West Coast drop 90% as global trade plummets

Freight rates from China to West Coast drop 90% as global trade plummets

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Logistics managers are sending the message to customers that the ocean freight market is correcting at a faster rate than expected. Transport company HLS recently wrote to its customers: “We initially expected the market to be on the verge of correcting and normalizing sometime in 2023, but this is coming much sooner than expected.” The …

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US gas prices plunge toward $3 a gallon as global demand plummets

US gas prices plunge toward $3 a gallon as global demand plummets

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Comment this story Comment Gasoline prices are dropping so fast it’s starting to put real money back in motorists’ pockets, defying past projections and delivering an unexpected holiday treat. Refueling is now as cheap as it was in February, just before Russia’s invasion of Ukraine sparked a global energy crisis. AAA reported the national average …

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