Here’s a breakdown of how major assets have performed.
They’ve tended to be negative for stocks, with the S&P 500 index SPX seeing a median fall of 1.2%, though the range has been wide. The July 2022 rate hike was followed by a rally of more than 2.6%, while declines of around 2.5% were seen in November and December. The mildest reaction came last month, with the S&P 500 losing less than 0.1% as the Fed stood pat on rates for the first time since beginning its hiking cycle in March 2022.
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