Key Takeaways
- The S&P 500 has slid this week, and is down over 3% from Monday’s open in late trading Thursday
- It comes as Fed Chairman Jay Powell has made comments that suggest interest rates could rise higher, and stay high for longer
- There have been some big individual movers so far this week, with GE up over 6% and SVB Financial Group down over 60% at time of writing
After opening higher on Monday, stock markets have been drifting down over the past few days. The reasons behind the fall are no surprise to anyone watching, given that the overriding issue moving the needle right now is interest rates.
Fed Chairman Jay Powell is like an actor in a highly anticipated Marvel movie. Watchers are hanging on his every word, looking for clues and spoilers as to what might be in store at the next Federal Open Market Committee (FOMC) meeting.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased