As gas prices reach all-time nominal highs, some consumers will be forced to make choices about their limited resources.
Concurrently, investors, who have been worried about inflation for months, went into full-blown panic mode, selling off global stocks. That Monday’s action was a trifecta of pain: The Dow Jones Industrial Average slipped into correction territory, falling 11% below its recent high; the S&P 500 had its worst day of 2022; and the NASDAQ Composite entered a bear market, down more than 20% from its November high.
Before Ukraine, the anger and concern over the 40-year highs in the rate inflation did not impact consumer consumption. Yes, we griped about it, but that didn’t stop us from unleashing our post-COVID spending sprees. If that news gets you down, perhaps it’s time to look beyond yourself and chip in to help with the various Ukrainian relief efforts. The International Red Cross, CARE, Doctors Without Borders and the International Medical Corps are on the ground assisting in Ukraine and in surround countries. You should also check in with your employer to see if they have established a Ukraine relief fund or provide a match to your donation.
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