The losses were widespread, and nearly 90% of the stocks in the S&P 500 fell in the wipeout. It’s one of the biggest speed bumps for the index since its big, record-setting rally began in late October. Much of that rise was due to hopes that inflation was cooling enough for the Fed to cut rates and relax the pressure on the economy.
The hotter-than-expected inflation report may have put the final nail into hopes that the first cut could arrive in March. It also pushed many forecasts past May into June, according to data from CME Group.
www.foxnews.com
The hotter-than-expected inflation report may have put the final nail into hopes that the first cut could arrive in March. It also pushed many forecasts past May into June, according to data from CME Group.
Biden's tweet touting economic gains haunts him as Wall Street sees sharp declines Tuesday
Wall Street's sharp declines on Tuesday run contrary to what President Biden touted Saturday in an effort to show how his administration's economic policies are combating inflation.
