Joe Biden’s Bear, Elon Musk’s Shanghai Follow, and Cash Is King
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Hi. Peter Navarro here with our weekly market rap on the Taking Back Trump’s America podcast and substack. As I indicated last week, the American stock market, as best summarized by the S&P 500 index, had reached the upper end of its trading range several weeks ago and there is now more risk to the downside than rewards to the upside.
That bearish concern was on display again this week as the S&P 500 had another down week, losing over 2% while the NASDAQ lost over 1 percent. Meanwhile, megacap tech stocks hit their longest slump this year -- three consecutive weeks of losses.
So what exactly is going on?
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