Stocks Stage Feeble Attempt At Dead Cat Bounce After Losing $1.3 Trillion In One Day
Stocks Stage Feeble Attempt At Dead Cat Bounce After Losing $1.3 Trillion In One Day US index futures staged a feeble, fading attempt to bounce on Tuesday, following Monday''s crash that wiped out $1.3 trillion in market cap and topped a furious 4-day selloff that was the worst since March 2020 and culminated in a bear market amid expectations - even from permabull Goldman - that the Fed''s now accepted 75bps rate hike on Wednesday will hurl the economy into a recession. Futures on the SP 500 rebounded more than 1% in early trading before fading the gain to just 0.24%, while Nasdaq 100 futures climbed 0.5%. US stocks plunged on Monday to the lowest level since January 2021 and closed more than 20% below its January record high, triggering Joe Biden first official bear market. Global equities sold off after an unexpectedly strong reading Friday on US inflation sparked concern that the Fed will go too far in raising interest rates to tame soaring prices. Bond yields dipped after soaring to a peak last seen in 2011.
Stocks Stage Feeble Attempt At Dead Cat Bounce After Losing $1.3 Trillion In One Day
Stocks Stage Feeble Attempt At Dead Cat Bounce After Losing $1.3 Trillion In One Day US index futures staged a feeble, fading attempt to bounce on Tuesday, following Monday''s crash that wiped out $1.3 trillion in market cap and topped a furious 4-day selloff that was the worst since March 2020 and culminated in a bear market amid expectations - even from permabull Goldman - that the Fed''s now accepted 75bps rate hike on Wednesday will hurl the economy into a recession. Futures on the SP 500 rebounded more than 1% in early trading before fading the gain to just 0.24%, while Nasdaq 100 futures climbed 0.5%. US stocks plunged on Monday to the lowest level since January 2021 and closed more than 20% below its January record high, triggering Joe Biden first official bear market. Global equities sold off after an unexpectedly strong reading Friday on US inflation sparked concern that the Fed will go too far in raising interest rates to tame soaring prices. Bond yields dipped after soaring to a peak last seen in 2011.