Sam Goldfarb, in The Wall Street Journal, has part of it.

The monthslong decline in bond yields exemplifies investors’ belief that inflation likely isn’t the biggest problem facing the US and global economy.
Monday’s sharp selloff in major US stock indexes highlighted investors’ mounting concern that the biggest risk to markets right now is underwhelming growth….

Indeed.

There are other things that folks are more concerned about than inflation, the current round of which I say is transitory. One is the Biden administration’s steady drumbeat of Wuhan Virus panic-mongering, currently over the Delta variant, which, albeit is more contagious, is in fact no more lethal than the Wuhan Virus original and against which existing vaccinations are highly effective.

Another thing is the Biden administration’s conflicting statements regarding the Wuhan Virus—its origin, palliatives like hydroxychloroquine and remdesivir, mask usefulness, and on and on.

Another thing is the Biden administration’s active attempts to censor, and to order private enterprises to censor, other conflicting information regarding the virus, vaccinations, and vaccinating in general, all because Progressive-Democrats think us average Americans are just too grindingly stupid to figure out for ourselves.

Another thing is the Biden administration’s runaway reregulation of our economy because Government Knows Best.

Another thing is Government’s Progressive-Democrats insisting on paying Americans to not work, slowing our economic recovery by hindering private enterprises’ ability to get the labor force with which to produce enough to meet growing demand.

Another thing is the Progressive-Democrats’ demand to tax our private enterprises to the point of non-competitiveness while at the same time spending our tax money with enormous abandon, crowding our private enterprises out of our economy in favor of a Government economy.

That’s plenty for investors to worry about.