The Dow Is 1,400 Points Lower Than When Biden Took Office

The Dow Is 1,400 Points Lower Than When Biden Took Office

The plummet in the Dow Jones Industrial Average this week sent the stock market more than 1,000 points below levels observed when President Joe Biden assumed office.

The Federal Reserve increased targets for the federal funds rate by 0.75% on Wednesday afternoon, sending the Dow, which tracks 30 of the most prominent companies on American stock exchanges, tumbling more than 500 points. After stagnating on Thursday, the index fell down another 500 points by early Friday afternoon to 29,400.

On January 20, 2021, the day of Biden’s inauguration, the Dow closed slightly above 30,900.

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Indeed, the United States economy has struggled over the past two years under a variety of economic disruptions — including labor shortages, supply chain bottlenecks, and the Russian invasion of Ukraine — all of

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