Stocks dip deeper into bear market ahead of big Fed news

in this year’s sell-off for markets as the Federal Reserve and other central banks raise interest rates to rein in inflation and forcefully turn off the “easy mode” that helped prop up markets for years. Bitcoin was down nearly 5% in afternoon trading and sitting at $22,201, according to CoinDesk. It earlier fell to nearly 70% below its record of $68,990.90 set late last year. was a touch lower in May than expected, though it remains very high.

A week ago, such a mega-increase was seen as only a remote possibility, if one at all. But a market-bludgeoning report Friday on inflation at the consumer level has seemingly pinned the Fed into getting more aggressive. It showed inflation for the “It’s really a split decision in terms of the market as to whether that will be a good thing or a bad thing,” Nixon said of a big rate increase. “It certainly opens the door to additional big hikes in the future.

They also had a relatively reliable warning signal of recession in the bond market flashing on and off. In afternoon trading, the yield on the 10-year Treasury had climbed back above the two-year yield, at 3.47% versus 3.41%. That’s typically how things look in the bond market. It was the first trading for U.S. stocks after the S&P 500 closed Monday at 21.8% below its record set early this year. That put it in a bear market, which is what investors call a drop of 20% or more.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Asian stocks slide as Fed hike fears tip Wall St into bear marketAsian shares slid sharply and the safe-haven dollar held near a two-decade peak on Tuesday after Wall Street hit a confirmed bear market milestone on fears aggressive U.S. interest rate hikes would push the world's largest economy into recession.
Source: Reuters - 🏆 2. / 97 Read more »

Bear market growls on Wall Street as stocks and crypto diveFears about a fragile economy are forcing Wall Street toward what’s known as a bear market, with the S&P 500 tumbling more than 20% below its record set early this year
Source: WOKVNews - 🏆 247. / 63 Read more »

Bear market hits Wall Street as stocks, bonds, crypto plungeThe S&P sank 3.9% in the first chance for investors to trade after getting the weekend to reflect on the stunning news that inflation is getting worse, not better. The Dow Jones Industrial Aver…
Source: mercnews - 🏆 88. / 68 Read more »

Jim Cramer: Why we're buying stocks heading into Wednesday's big Fed decisionOn Tuesday, we will begin to put to the money to work that we have saved on the sidelines. Oh damn I was a day too early Crash incoming This guy will literally cause you to go broke. Jesus
Source: CNBC - 🏆 12. / 72 Read more »

Wall Street Enters a Bear Market. Should I Buy or Sell Stocks?Wall Street is back in the claws of a bear market as worries about inflation and higher interest rates overwhelm investors. Here’s what you need to know about bear markets and what you should do if you find yourself in one.
Source: NBCNewYork - 🏆 270. / 63 Read more »