US stocks suffer worst monthly loss since March 2020
Al Jazeera
Investors are warily eyeing the global energy crunch, the US debt ceiling debate and plans by the US Federal Reserve to wind down some of its pandemic-related economic support, among other factors.
Volatility continued to roil financial markets, with U.S. equities notching their biggest monthly selloff since March 2020.
Stocks pushed lower on Thursday even after confirmation that the House passed a nine-week spending bill to avert a U.S. government shutdown. For traders, that was just one within a litany of risks. Investors are also bracing for the Federal Reserve to wind down its stimulus amid mounting fears about slowing economic growth, elevated inflation, supply-chain bottlenecks, a global energy crunch and regulatory risks emanating from China.
Political wrangling in Washington is threatening to push the U.S. into default and force President Joe Biden to scale back his spending agenda. Democratic Senator Joe Manchin wants the social-spending package cut by more than half to $1.5 trillion. House Speaker Nancy Pelosi was pressing ahead with a vote on a bipartisan infrastructure bill, even though progressive Democrats said they have the numbers to stall it until the Senate agrees on a more expansive tax and spending package.
