The Federal Reserve (Fed) announced a hawkish turn at its December meeting, sending the S&P 500 (SPX) plummeting 2.95% due to the interest rate decision and Powell’s press conference.
The move suggests the Fed is likely making the last of its rate hikes to combat inflation, indicating a shift towards more conservative monetary policies in the future. This change has significant implications for investors and the broader market.
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Source: https://seekingalpha.com/article/4745413-s-and-p500-buy-the-dip-or-expect-a-deeper-sell-off