Associated PressFILE- This Oct. 18, 2008 file photo shows the Charging Bull sculpture in New York City's Financial District. The S&P 500 is now in what Wall Street refers to as a bull market, meaning the index has risen 20% or more from its most recent low.
Markets tumbled last year on fears about how the worst inflation in decades would ravage the economy. More precisely, Wall Street got spooked by the aggressive measures the Federal Reserve took to combat high inflation. Inflation, meanwhile, has eased off since hitting a peak last summer. That has Wall Street hoping for the Fed to soon stop hiking interest rates.
That keeps up the pressure on the overall economy and particularly on the banking and manufacturing industries, which have already shown some cracks.
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