4 reasons the economy looks like it's crumbling
The economy is so hot that prices are surging faster than at any point since the 1980s.
The Fed is hiking ratesInflation has been rampant, and the Federal Reserve's tool to fight surging prices lies in its ability to set interest rates higher.
That makes borrowing more expensive and slows the economy down — on purpose.
The Fed is convinced it can raise rates without plunging the economy into a recession.
The stock market is in sell-everything modeExtreme fear is the predominant sentiment on Wall Street this year.
Nasdaq COMP After hitting record highs in early January, the stock market has lost nearly a fifth of its value — plunging stocks near bear-market territory.
More than $7 trillion has evaporated from the stock market this year.
Although a minority of Americans actively invest in the stock market, when they see a sea of red next to CNN's ticker or on their phone screens, that has historically given people pause.
That's potentially bad news for the economy, because consumer spending makes up more than two-thirds of America's gross domestic product.
When bond prices fall, yields rise — and yields on the 10-year Treasury topped 3% this month for the first time since 2018.
China's economy has slowed dramatically as it keeps workers home as part of its zero-Covid policy.
What happens abroad could spill over to the United States, too, hurting America's economy at the worst possible time.