Stocks headed toward their longest slide since January on concern the Federal Reserve’s aggressive policy stance to combat stubbornly high inflation will throw the world’s largest economy into a recession.
Traders remained cautious ahead of the US central bank’s decision Wednesday and have now almost fully priced in a 75-basis-point hike, the biggest since 1994. The S&P 500 dropped for a fifth straight day amid several twists and turns, while the tech-heavy Nasdaq 100 outperformed as Oracle Corp.’s forecast suggested the effort to move customers to the cloud is gaining momentum. Economic bellwether FedEx Corp. rallied after boosting its dividend. Bitcoin hovered near its December 2020 lows.
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June 14, 2022 at 05:17AM
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Stock Market Today: Dow, S&P Live Updates for Jun. 14, 2022 - Bloomberg
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