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GDP Falls for Second Consecutive Quarter – Recession is Here

Updated GDP numbers came out today, yielding -0.9% growth for Q2 2022, officially putting the U.S. in a recession as this is the second consecutive quarter with negative growth.

With the economy shrinking, we’d expect asset prices to plummet, but equities and crypto have been doing just fine following the news.

Bitcoin held its $23,000-range and pre-market prices on equities have been relatively stable.