Stuart Varney: Recession seems inevitable

FOX Business host Stuart Varney argues the U.S. is witnessing ‘wealth destruction on a massive scale.’

STUART VARNEY: This is another financial storm, and it seems to be gathering steam. That’s what makes people so anxious: where does it end?

Crypto investors are the most nervous of all, because they’re experiencing a genuine crash. 

That’s a strong word and should be used carefully, but when Bitcoin loses one third of its value in a weekend, it’s a crash. 

Nearly $2 trillion lost. 

Some of the youngsters who piled into crypto with their stimulus money, have lost their shirts.

It’s certainly a storm for stock investors. 

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FOX Business Network (FBN) is a financial news channel delivering real-time information across all platforms that impact both Main Street and Wall Street. Headquartered in New York — the business capital of the world — FBN launched in October 2007 and is one of the leading business networks on television, having topped CNBC in Business Day viewers for the second consecutive year in 2018. The network is available in nearly 80 million homes in all markets across the United States. Owned by FOX Corporation, FBN is a unit of FOX News Media and has bureaus in Chicago, Los Angeles, and Washington, D.C.

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