Head of the Russian Investment Fund: The recession in the US economy has begun

The head of the Russian Direct Investment Fund said that the recession in the US economy has already begun, largely due to sanctions against Russia, which led to the collapse of US stock indices.

Kirill Dmitriev, whose name was on Western sanctions lists after the start of the Russian military operation in Ukraine, said that US sanctions against Russia are detrimental to the US economy and have already led to the largest drop in the history of leading stocks of indices, as the Nasdaq index showed the strongest drop in six months of history, while the Dow Jones recorded its biggest drop since 1962 and the S&P 500 since 1970.

Dmitriev said in a press statement today, Saturday, that the downturn in the markets led to a $9 trillion decline in the value of US stocks, representing the worst first half of the year for US financial markets since 1970, when heavy selling of US stocks ended the longest economic period. growth, stagnation came to replace the US.

He added: “Like half a century ago, a complete collapse in the markets is followed by the onset of a recession. According to the Atlanta office of the US Federal Reserve, US GDP is expected to continue to grow. recession has already begun.

Source: “News”

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