AFMC - 'No Rate Cut' Bear Scares S&P 500 Into Retreat
2024-04-23 08:00:00 ET
Summary
- The S&P 500 fell again during the third week of April 2024.
- The main driving force behind the falling level of stock prices are slipping expectations for when and by how much the Federal Reserve will cut interest rates during 2024.
- The CME Group's FedWatch Tool anticipates the Fed will hold the Federal Funds Rate steady in a target range of 5.25-5.50% until 18 September.
The S&P 500 ( SPX ) fell again during the third week of April 2024. The index closed out the week at 4,967.23 , a little over three percent below the level it closed the second week. The index has dropped 5.5% below its record peak closing value from 28 March 2024....
'No Rate Cut' Bear Scares S&P 500 Into Retreat