Today: The S&P 500 lost more than 1% on Friday, taking it back below 6,000. Nonetheless, the broad U.S. index of stocks has gained nearly 26% this year — which some analysts regard as “miraculous”. Russia’s ruble lost another 12% of its value in the post-Christmas period, reflecting high inflation generated by Putin’s war against Ukraine, and currently stands at 112 to the dollar.
Former president Jimmy Carter died aged 100. Like Biden, he was a Democrat who served only one term in the White House and also struggled to control inflation.
