&P 500 fell 2.1% on Monday, its worst day in more than two months. As of trading on Wednesday afternoon, the index had recovered some of its losses but remained down for the week.
But analysts differed over whether this week's downturn marks a brief hiccup or a sign of more losses to come, suggesting that murky economic data supports varied interpretations about the outlook of the economy and in turn corporate profits, the key focus for stock forecasters. Typically, the market has climbed in response to news about slowing inflation and a potential softening of rate increases; inflation spikes and rate moves are a common cause of selloffs.&P 500 soaring to its highest level in three months, reflecting optimism that price increases have peaked.
Such signals from the Fed have contributed to the market decline this week, Ivan Feinseth, a market analyst at Tigress Financial, told ABC News.
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