Wall Street suffered the biggest sell-off of the year, as noisy inflation data has investors increasingly worried interest rate cuts will come later than originally predicted, if they come at all in 2024.
Nick Rummell is a legal and markets reporter based in New Jersey. He has covered state and federal courts in the state, as well as such high-profile cases as the Bridgegate scandal and defamation cases involving 2020 election conspiracies. He has previously covered financial regulation, corporate governance, healthcare, and food, as well as worked in Michelin-starred kitchens as a line cook.
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Wall Street suffered the biggest sell-off of the year, as noisy inflation data has investors increasingly worried interest rate cuts will come later than originally predicted, if they come at all in 2024.
The combination of hawkish comments from the Federal Reserve and a surprisingly robust labor market spurred the bears to overtake the bulls on Wall Street this week.
To the consternation of Wall Street and joy of Main Street, the labor market in the United States remains resilient, gaining 303,000 jobs last month.
Wall Street equities flatlined this week while Treasury yields inched up, as pricing data show inflation is not just sticky but climbing up in a few spots.
Wall Street equities flatlined this week while Treasury yields inched up, as pricing data show inflation is not just sticky but climbing up in a few spots.
Wall Street equities flatlined this week while Treasury yields inched up, as pricing data show inflation is not just sticky but climbing up in a few spots.
Wall Street equities flatlined this week while Treasury yields inched up, as pricing data show inflation is not just sticky but climbing up in a few spots.
Wall Street equities flatlined this week while Treasury yields inched up, as pricing data show inflation is not just sticky but climbing up in a few spots.