Biden's stock market profits have vanished

Joe Biden may not be as enamoured with the stock market as his predecessor. 

This year's Wall Street upheaval hit the president hard. The S&P 500 has lost all gains since Biden's inauguration.

The S&P 500 is down 2.7% since January 20, 2021. The Biden era began in the negative after Monday's 3.9% market drop.

The blue chip index, which includes Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Elon Musk's Tesla (TSLA), and Warren Buffett's Berkshire Hathaway (BRKB), is down 21% this year.

The Biden stock market has turned around. The S&P 500 rose 24% from Inauguration Day to December.

The combination of rising oil and gas costs after Russia's invasion of Ukraine, inflation worries from supply chain interruptions, and Federal Reserve rate hike fears put the market into a tailspin in 2022.

Experts are quick to note that the stock market is not the economy. What occurs on Wall Street doesn't necessarily affect Main Street, especially non-active investors.

However, consumer confidence and sentiment often reflect market swings. Even if they don't invest, they read about Wall Street on smartphones and watch TV broadcasts.

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