Sudden stock crashes are notoriously difficult to explain. But rising wages and incipient inflation seem to be scaring investors.
The Dow Jones Industrial Average plunged more than 1,000 points on Monday. This was the largest nominal decline in the history of the index, and the first time that the Dow has lost more than a thousand points in a single day of trading.
This means the Dow suffered its first-ever four-digit point loss just hours after the Super Bowl witnessed its first-ever four-digit offensive output. I am not suggesting causality here—I am insisting on causality here.