Markets in Freefall and Inflation’s Relentless March Yesterday’s brutal sell-off in U.S. equities was a preview of what happens when the contradictions of modern monetary policy can no longer be papered over. The Dow Jones Industrial Average shed over 400 points under the twin pressures of lackluster earnings and uncontained inflation. Yet in a sign of our distorted times, Nvidia’s unstoppable surge pushed the NASDAQ to another record, reinforcing the delusion that a handful of technology stocks can keep the whole rotten edifice afloat. Meanwhile, the 10-year Treasury yield climbed to a punishing 4.87%, lifting borrowing costs across the board—from car loans to mortgages. Precious metals slipped as traders liquidated to cover margin calls, and Bitcoin retreated several thousand dollars…
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