IYY - The Stock Market Sell-Off May Have Only Just Begun
2024-04-17 14:10:46 ET
Summary
- The S&P 500 has pulled back 4% from recent highs, but it's not due to geopolitical tension.
- Rates, the dollar, yen, and oil are not reflecting typical flight to safety characteristics.
- Markets are correcting for their massive blunder.
The S&P 500 has pulled back about 4.6% from its recent highs, which is nothing to cause great concern. However, the declines thus far have been due to the market's changing expectations around the path of monetary policy, not the geopolitical tension many media outlets and market pundits have pointed to. The evidence is within the market and is critical to understand because it may determine where it is heading....
The Stock Market Sell-Off May Have Only Just Begun