NEW YORK, April 5 ― The three major US stock indexes fell more than 1 per cent each and the S&P 500 had its biggest daily percentage drop since February 13 yesterday as...
The Dow Jones Industrial Average fell 530.16 points, or 1.35 per cent, to 38,596.98, the S&P 500 .SPX lost 64.28 points, or 1.23 per cent, to 5,147.21 and the Nasdaq Composite dropped 228.38 points, or 1.4 per cent, to 16,049.08.
Earlier yesterday, Richmond Fed President Thomas Barkin said the US central bank has “time for the clouds to clear” on inflation before starting to cut rates.“It's a very careful, measured approach,” said Paul Nolte, senior wealth adviser and market strategist for Murphy & Sylvest in Elmhurst, Illinois.The Cboe Volatility index posted its highest close since November 1.
Money markets still currently expect a near 60 per cent chance of at least a 25 basis-point rate cut in June, according to the CME Group's FedWatch tool.
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