Volatility Grips Stocks as Treasury Yields Surge: Markets Wrap
- Bonds extend worst selloff in decades as Fed sows anxiety
- Officials increasingly seen hiking 75 basis points Wednesday
This article is for subscribers only.
Volatility continued to grip financial markets on concern the Federal Reserve’s aggressive stance to fight stubbornly high inflation will throw the world’s largest economy into a recession.
After facing several twists and turns, the S&P 500 closed down for a fifth straight day -- its longest losing streak since January. The technology-heavy Nasdaq 100 climbed as Oracle Corp.’s forecast suggested the effort to move customers to the cloud is gaining momentum. Economic bellwether FedEx Corp. soared the most in almost 36 years after boosting its dividend.