Investors are dumping stocks and interest rates are climbing as fears grow that inflation remains stubborn and the US Federal Reserve will have to pare back its plans for rate cuts this year to fight it. Friday’s surprisingly strong jobs data only intensified those worries.
It’s the round-trip ticket no one on Wall Street wanted.
The S&P 500 Index on Monday briefly dropped below where it ended on Nov 5, just before Donald Trump was elected US president, and closed only slightly above that level on Monday.
