Unpredictable chemical shortage hits US farms

CHICAGO, June 27 (Reuters) – U.S. farmers have cut back on the use of common herbicides, sought substitutes for popular fungicides and altered planting schedules amid ongoing shortages of agricultural chemicals that threaten to cut harvests. Spraying smaller amounts of herbicides and using less effective fungicides increases the risk that weeds and diseases will affect … Read more

Mortgage hits 14-year high as Fed hikes rates to curb inflation

Placeholder when loading item promotions Mortgage rates have soared this week, hitting their highest level since 2008. The faster-than-expected escalation is having a chilling effect on the US housing market and putting pressure on an economy already plagued by relentless inflation. The 30-year fixed-rate mortgage, the most popular home loan product, rose to 5.78 percent … Read more

Markets in chaos: gold prices down $50, bitcoin price hits lowest since December 2020, stocks plummet

(Kitco News) Markets across the board are reeling as wild price swings dominate stocks, crypto and gold. Analysts warn of panic selling as markets reassess expectations of a more aggressive Federal Reserve. Investors are reacting in advance to the Federal Reserve’s interest rate decision planned for Wednesday after surprisingly hot inflation … Read more

Stocks fall again as hot inflation hits market shockwaves: what investors need to know

Fears spread from Wall Street to Main Street that the US economy could slide into 1970s-style “stagflation”. References to the difficult situation appeared in the headlines all week. The Associated Press called it “the dreaded ‘S’ word.” The Wall Street Journal reminded readers of the origins of neologism as a catchy way to describe an … Read more

US inflation hits fresh 40-year high as price hikes spread

WASHINGTON (AP) – The prices of gasoline, groceries and most other goods and services soared in May, pushing inflation to a new four-decade high and giving American households no respite from rising costs. Consumer prices rose 8.6% year-on-year last month, faster than April’s 8.3% year-on-year rise, the Labor Department said on Friday. The new rate … Read more