Why stock-market bulls might not celebrate if Fed 'pauses' rate hikes

Investors on Wednesday will be looking for signs the Federal Reserve is ready to call at least a temporary halt to further interest rate increases after it delivers what’s expected to be a 10th straight hike. But that might not be enough to give the stock market a lasting lift, market watchers warned.

“A pause and likely end of the Fed rate hiking cycle isn’t a boon to risk assets, since it’s already largely priced in across financial markets,” said Jason Draho, head of asset allocation, Americas, at UBS Global Wealth Management,...

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