What Makes This Market Correction So Confusing

Oct. 31, 2023 11:02 am ETIt isn’t just rate-sensitive stocks that have fallen. The biggest tech stocks ought to have fallen more than the rest but haven’t.A former editor of the Economist magazine explained the craft of journalism as “simplify, then exaggerate.” TheSimplification 1

: It is all about the Fed. Investors have finally begun to believe the Federal Reserve when it says it will, although it isn’t expected to raise rates at its meeting this week. Since the S&P 500 peaked at the end of July, 10-year Treasury yields have jumped almost a full percentage point to 4.85%. Naturally, stocks have fallen—more than 10% from their recent highs, the standard definition of a “correction.

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