Stocks are off to an ugly start for this year. The S&P 500 is expected to see its worst month since March 2020. The drop comes ahead of the Federal Reserve’s interest rate hikes that are expected this year. Tech stocks have been especially hard hit by rising bond yields as investors rotate out of risky growth stocks and into safer assets.
that the worst may be yet to come, predicting that stocks may continue to fall amid disappointing corporate earnings and the Fed’s tightening monetary policy.With investors preparing for a rising interest rate environment, government bond yields have jumped: The benchmark 10-year Treasury note sits near two-year highs at 1.78%. Surging rates have put growth stocks, particularly shares of tech companies, under major selling pressure in January.
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