NEW YORK, April 6 — Wall Street stocks finished sharply lower Tuesday following hawkish comments from a top Federal Reserve official that boosted expectations for more interest rate hikes. Saying inflation must be reined in, Fed Governor Lael Brainard warned the US central bank was “prepared to...
NEW YORK, April 6 — Wall Street stocks finished sharply lower Tuesday following hawkish comments from a top Federal Reserve official that boosted expectations for more interest rate hikes.
The remarks helped lift the yield on the 10-year US Treasury note above 2.5 per cent, well above where it was throughout the Covid-19 pandemic. Brainard’s comments came as markets were already girding for tougher sanctions on Russia amid international outrage at carnage discovered in the Ukrainian town of Bucha following the withdrawal of Russian troops.
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