STOCK MARKET NEWS: Fed rattles investors, Musk slashing Twitter jobs, Powerball jackpot

The average 30-year fix-rated mortgage averaged 6.95%, down from 7.08% a week ago. A year ago at this time, the 30-year FRM averaged 3.09 percent.

The Fed raised its short-term lending rate by 0.75 percentage points, three times its usual margin, for a fourth time this year.Traders will be watching the latest reports on jobless claims, trade balance and factory orders. In Asia, Hong Kong's Hang Send fell 3%, China's Shanghai Composite Index lost 0.3%. Japanese markets were closed for a holiday.

The forecast mirror warnings signals on ad spending from Snap Inc as companies cut their advertising budgets to rein in costs. Separately, the California-based firm also announced that its chief financial officer, Steve Louden, will leave the company sometime in 2023.eBay logo at company headquarters

Failure of banks and monetary system ( WAY TO GO ! ) Nov 2 , 2022 the day Powell blew it👏

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