We in a crisis
Let's talk markets, economy.
Stocks slumped on the news, which countered any lift they might otherwise have received from remarks from Federal Reserve Chair Jerome Powell. The Fed chief said at a Friday event that policymakers might not need to raise interest rates as high, thanks to tightening credit conditions. The S&P 500 (SPX) was down 0.4% as of 11:41 a.m., after being up 0.4% earlier.
Market participants have warned of a surge in borrowing costs and blow to equities in the event of any default, with reverberations to the global economy that could rival the 2008 crash.
Let's talk markets, economy.
Stocks slumped on the news, which countered any lift they might otherwise have received from remarks from Federal Reserve Chair Jerome Powell. The Fed chief said at a Friday event that policymakers might not need to raise interest rates as high, thanks to tightening credit conditions. The S&P 500 (SPX) was down 0.4% as of 11:41 a.m., after being up 0.4% earlier.
Market participants have warned of a surge in borrowing costs and blow to equities in the event of any default, with reverberations to the global economy that could rival the 2008 crash.
Last edited:
