TECH - Market Turmoil Resumes As Inflation Rises More Than Expected Oil Prices Spike Gold At Record Highs: This Week In The Markets | Benzinga
Volatility stormed back into the markets, shaking things up in a week where inflation defiantly outstripped estimates for the third straight month in March, leading investors to substantially slash their expectations for Federal Reserve interest rate cuts.
Geopolitical tensions in the Middle East fueled a surge in commodities like oil and gold. Meanwhile, the start of the earnings season saw major banks slightly surpassing estimates, yet the overall negative sentiment has still triggered a negative response from stocks.
On Friday, the CBOE Volatility Index, or VIX, spiked the most in more than a year, amid rising indications of an imminent Iranian attack on Israeli soil, with President Joe Biden acknowledging it could occur “sooner rather than later.”
Rate Cut Expectations Delayed
Following recent hotter-than-expected inflation ...