New York — US stocks closed lower on Monday, adding to last week’s sharp losses on nagging concerns about the Federal Reserve’s determination to aggressively hike interest rates to fight inflation even as the economy slows.
“Friday’s sell-off was frankly overdone, I know said he was going to play tough with inflation but it is honestly not that much different from what he has been saying for the last several weeks, he was a little more hawkish but I mean who is surprised by that, really?” said Randy Frederick, vice-president of trading and derivatives for Charles Schwab in Austin, Texas.
Megacap technology and growth stocks such as Apple, off 1.37%, and Microsoft, down 1.07% were among the biggest drags on the index as Treasury yields rose.Money market traders are pricing in a 72.5% chance of a 75 basis point interest-rate hike at the Fed’s September meeting, which would be the third straight hike of that magnitude. They expect the Fed funds rate to end the year at about 3.7%.
You are indeed a great man to be called, I assure you that I will bring friends to come and invest with you because of the excellent work you did for me, I will keep sharing the good news about you JamesAlderson0
대한민국 최근 뉴스, 대한민국 헤드 라인
Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.
출처: dailymaverick - 🏆 3. / 84 더 많은 것을 읽으십시오 »
Stocks keep sliding as dollar hits two-decade high on rates fearsFed chair Jerome Powell's promise of policy “pain” to contain inflation quashes hopes of the central bank rescuing markets
출처: BDliveSA - 🏆 12. / 63 더 많은 것을 읽으십시오 »
US stocks retreat as rate hike concerns persistTraders ramp up bets on 75 basis point rate hike by the Fed in September You are indeed a great man to be called, I assure you that I will bring friends to come and invest with you because of the excellent work you did for me, I will keep sharing the good news about you JamesAlderson0
출처: BDliveSA - 🏆 12. / 63 더 많은 것을 읽으십시오 »