edged closer toward parity with the greenback, which climbed as much as 1.1%. Treasury 10-year yields dropped below 3%.
“The stock market has NOT already priced-in any possible upcoming decline in earnings estimates from this year ,” wrote Matt Maley, chief market strategist at Miller Tabak. “Even if earnings estimates stay stable and especially if they decline, the stock market is going to have to fall further before we see an important bottom for this bear market.”
A combination of steep Fed hikes and economic growth fears have lifted the greenback to the highest levels since March 2020. The dollar surge will be a
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