Since Russia invaded Ukraine, it has been a big cause of corporate losses, prompting companies to cut ties. At International Paper Co., this has resulted in a 1.24% loss.
As Carvana Co.'s share price continues to decline, Wall Street analysts are lowering their targets and warning that conditions could worsen.
S&P Global Ratings has warned that the default rate for US companies could soar to 3.75% if the Federal Reserve's efforts to fight inflation only lead to a shallow recession. If the downturn is more severe, the default rate could reach 6%.
Economists estimate that, as of the third quarter of this year, households still had excess savings of between $1.2 trillion and $1.8 trillion - that is, the amount they saved above and beyond what they would have saved in the absence of the pandemic.