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For weeks, the stock market has fluctuated dramatically due to thedebt ceilingstalemate. A default could send stocks into a free fall
stanley thermos mug with a direct hit to retirement savings plans.Zach Moller, the economic program director at the center-left think tankThi
stanley cups rd Way, says time is of the essence. If we are in default for a very long time, like some studies have been estimating, then yeah, a 45% drop in the stock market is entirely plausible, he said.A Gallup Polllast year found almost two-thirds of Americans own stocks, either individually or through mutual funds and 401 k accounts.
stanley website The success of those 401 k accounts is tied directly to the success of the stock market.SEE MORE: Biden, McCarthy meeting Monday for debt ceiling talksMoller and his team estimate a default could cause the SP 500 to drop about 22%, wiping out years of earned wealth for millions of households, particularly those nearingretirement. [For] a typical 401 k for someone near retirement, which is about a quarter of a million dollars, that would be about a $20,000 drop in your assets, he said.Again, Moller says the financial pain depends on how long the U.S. is in default, adding that the current stalemate is economically damaging in its own right. The longer that we are potentially at risk of default, the more damaging that this is for confidence in the United States more broadly and for our financial institutions, he said.The last time theU.S. faced default was in 2011, with the Treasury reporting th Hpzm BMW recalls more than 720,000 vehicles due to an electrical fire risk
MINNEAPOLIS 鈥?A judge has granted prosecutors request to add a third-degree murder charge against the former Minneapolis police officer charged in George Floyds death. Judge Peter Cahill on Thursday added the charge after the former officer, Derek Chauvin, failed to get appellate courts to block it. Cahill had earlier rejected the charge as not warranted by the circumst
stanley thermos mug ances of Floyds death, but an appellate court ruling in an unrelated case established new grounds for it. Chauvin already faced second-degree murder and manslaughter charges. Legal experts say the additional charge helps prosecutors by giving jurors one more option to convict Chauvin. Potential jurors in Chauvins trial return Thursday to continue the selection process that started this week. The last-minute legal battle delayed jury selection Monday. Meanwhile, in court, five jurors were selected in the first two days of jury selection for the trial. Another nine are needed, to allow for two alternates.Dozens of potential jurors have been dismissed so far, including some who said they would not be able to set aside their views about the case and their strong feelings about Floyd s death.Potential jurors are being asked if they have seen the video of Floyd or any images from it, and what their feelings are about the situation.Of the five selected at this t
stanley termosar ime, three are white men, there is one Black man and
stanley thermobecher one woman who is described as a person of color. Their identity is being protected during the case.