Call it a delayed reaction, but the Federal Reserve’s signal that its main policy rate will likely peak above 5% and stay there for a while was getting the blame for Thursday’s painful stock-market rout.
The S&P 500 index SPX fell 2.5%, posting its worst daily drop in two months, with losses in its rate-sensitive communication services and information technology sectors leading the way lower. Those sectors skid 3.8%, according to FactSet.
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December 16, 2022 at 03:05AM
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Stocks are plunging because the Fed 'cannot lose the battle' on inflation - MarketWatch
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