A Look at the Current US Broad Market Status

Ben LaScola, Staff Writer

  The past few months in the United States economy have been incredibly rocky due to war, market liquidation(mass-selling), and inflation. The past 2 years especially have seen a massive recession following the COVID-19 pandemic which has caused massive uncertainty in market conditions. The stimulus packages and many trillion-dollar spending bills have continuously pumped inflation to almost 8% a record high last seen in the late 70s and 80s. 

  The Ukraine-Russia conflict has also caused a massive market downturn in the past 2 months. Oil prices hit a record high of $113 a barrel resulting in gas prices hitting record highs. Some places like California saw gas prices at almost $9 a gallon. 

  In this time of conflict, not everything is down however; Gold hit a record high of over $2000 an ounce, signaling market uncertainty and people moving money to safer assets. 

  Another interning turn has been the cryptocurrency market which lost almost half its total market value in the past few months, yet has stayed at a constant and relatively stable price floor. Bitcoin saw lows of $38,000 per coin in the most uncertain times, but now climbing back to a current price of $42,000 with bullish(price increase) signs of a possible high uptrend. A possible theory for this incredibly speculative crypto market being as stable as it is, and also considering how new this market is, comes from foreign banking institutions freezing bank assets due to political demonstrations such as those in Canada or Ukraine. Large banking firms put a ceiling on what amount of money people can withdraw from their bank accounts or completely locked funds for people.

  This is not a problem for crypto due to its decentralized nature of not being tied to a single compare entity and ability to have a digital self-custodial store of wealth. Current markets are showing a more recent uptrend due to things settling after the immense sell-off, showing signs of a possible soon uptrend of prices in stocks, crypto, and precious metals.