SPDR S&P 500 (SPY)

[Vandalayind]

https://www.cnbc.com/2021/05/28/pce-price-index.html

That increase in inflation came with a sharp deceleration in personal income, which declined 13.1%. But that actually was less than the 14% estimate. Personal income had surged 20.9% in March following the latest round of government stimulus checks.

Inflation up....income down.

It doesn't get any worse economically than that.