Hot CPI and hawkish Fed talk hit stocks and bonds
A surprisingly strong inflation print and hawkish Fed comments pushed rate-hike expectations higher, sending US indices lower and the dollar up.
What we know
Market news accounts report that a hot CPI made a December quarter-point hike look like a done deal. They also relay Fed officials' remarks: Waller reportedly warned a half-point hike may be needed and Logan backed at least two more quarter-point hikes (unconfirmed). The S&P 500 closed 0.38% lower at 7,521.50 and the Nasdaq fell 0.69%. A market analyst notes 68 straight months of inflation above 2%. In crypto, traders describe BTC sitting just under range lows, with sentiment at a seventh straight day of Fear.
What people are posting
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“A quarter-point hike in December is a done deal”
View post →“Waller warned a half-point rate hike in December may be necessary”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.