Wall Street's benchmark S&P 500 index declined for another day Monday after a Federal Reserve official rattled investors last week by saying already-elevated interest rates might have to go higher than expected to stop surging inflation.
The electric automaker’s shares are down more than 50% this year on fears CEO Elon Musk will be distracted by his $44 billion purchase of Twitter. U.S. markets close Thursday for the Thanksgiving holiday and have a shortened trading day Friday. They expect the Fed to raise rates again at its December meeting but by one-half percentage point after four hikes of 0.75 percentage points, three times its usual margin.
Nice work President Biden to bring down inflation. Thank you.
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