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Bargain hunters are snapping up stocks today in bear market 'one-day wonder'

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But history suggests bear markets usually take time to find a floor

“So while we have this rally today, I am looking at the volatility index that is down just slightly, it is not really buying this. There is still quite a bit of nervousness around the markets.”Article content

Markets have priced in further rate hikes in July and September amid growing doubts if the U.S. central bank can engineer a soft landing for the economy and avoid a recession. All eyes are now on Fed Chair Jerome Powell’s testimony to the Senate Banking Committee on Wednesday for clues on future interest rate hikes.

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pump and dump

One day does not make a trend

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