The S&P 500 fell 5.2% from Sept. 2 through Oct. 4 amid concerns regarding lofty valuations amid a backdrop of supply chain disruptions and labor shortages that developed in the wake of COVID-19. <\/p>\n
| Ticker<\/th>\n | Security<\/th>\n | Last<\/th>\n | Change<\/th>\n | Change %<\/th>\n<\/tr>\n<\/thead>\n |
|---|---|---|---|---|
| SP500<\/td>\n | S&P 500<\/td>\n | 4361.19<\/td>\n | -30.15<\/td>\n | -0.69%<\/td>\n<\/tr>\n |
| <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n The supply chain and labor issues along with trillions of dollars of fiscal and monetary stimulus have resulted in the consumer price index rising 5.3% year over year in September, near the hottest pace in 13 years. That backdrop, along with concerns over slowing growth, has sparked talk that the U.S. is entering a stagflationary environment, the likes of which has not been seen since the 1970s. <\/p>\n However, many Wall Street economists, like the Federal Reserve, say pricing pressures are likely to ease in the months ahead as supply chain bottlenecks are alleviated. <\/p>\n Others say we are nowhere near the stagflation that was seen when Jimmy Carter was in the White House.<\/p>\n "If ‘stagflation’ means ‘the 1970s,’ a time of wage-price spirals and high unemployment, this clearly isn’t it," wrote Morgan Stanley strategist Andrew Sheets. <\/p>\n Still, a Deutsche Bank survey published Monday found 74% of more than 600 respondents worried that rising inflation\/bond yields pose the biggest threat to market stability. <\/p>\n Sixty-three percent of respondents think there will be another 5% to 10% pullback in the S&P 500 while another 8% feared a steeper decline. <\/p>\n But Wall Street is mostly on board with the idea that the current pullback represents a buying opportunity. <\/p>\n |
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