Over a 20% loss under this incompetent President. The retirement
funds who worked hard to save are being wiped out by Biden's horrific
economic policies.

"For a while this summer, the global economy seemed to have paused its
monthslong decline, bucking the prognostications that we were entering
a recession and even spurring markets upward during a monthlong
retread of last year’s memestonk zaniness. Friday, though, all hell
seemed to break loose. Stock markets in the U.S. cratered to their
lowest point since 2020 as Wall Street has become all but certain the
world is about to enter a grinding slowdown, one that could last
years, as the problems stemming from inflation prove more difficult to
break. If it all seems very sudden — well, it is. The economy has been
fine before, so what happened?

What separates today’s market shock from the past two and a half years
of the pandemic economy boils down to credit. Since March 2020, the
U.S. has been awash in some $5 trillion in money sent directly to
people’s pockets in the form of payments, part of a global program to
keep the world from imploding as people were forced to stay home. But
there has been another form of monetary support propping up the global
markets: rock-bottom interest rates. This allowed people and companies
to borrow even more money with corporations borrowing another $2.5
trillion in 2020 and $2.3 trillion the following year — with more of
that money going to companies that are at risk of defaulting. And now
more and more companies are turning their pockets inside out and
saying they are unable to pay the money back."

https://nymag.com/intelligencer/2022/09/why-the-stock-market-crashed-this-week.html

But hey, keep raising those interest rates.