Reuters
Investor pessimism mounts as more Fed rate hikes loom
Stock market investors are heading into the U.S. Federal Reserve’s rate-setting announcement particularly pessimistic, with fresh milestones for bond yields and worries about rocketing inflation weighing on sentiment as the central bank is expected to hike rates further. The benchmark S&P 500 is down over 12% so far this year after posting its biggest monthly drop in April since the start of the pandemic. Meanwhile, the yield on the U.S. Treasury note hit 3% for the first time in over three years on Monday, doubling since the end of 2021.
