Fed's hiking pause may not signal all-clear for US stocks

it may pause interest rate increases after raising rates by 500 basis points over the last 14 months to fight inflation in its most aggressive monetary policy tightening since the 1980s.

"The Fed getting ready to move to the sidelines is one step but it won't be a cure all," said Angelo Kourkafas, an investment strategist at Edward Jones. Still, equities have risen in recent weeks, with the S&P 500 up 6% since mid-March despite a tumult in U.S. regional banks and worries over a looming showdown over raising the country’s debt limit.

"The market has moved up, the valuation is full, you could say," said Matt Peron, director of research at Janus Henderson Investors. "I think the market is a bit vulnerable to a shock here."

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