Stocks Slide as Fed Rate-Cut Bets Pared Back: Markets Wrap
Published On Nov 15, 2024, 3:36 AM
Stocks fell on Friday after Federal Reserve Chair Jerome Powell indicated that there is no rush to cut interest rates, causing traders to lower their expectations for a rate increase in December. This news has been a catalyst for declines in European equities and U.S. futures. The U.S. dollar has strengthened, hitting a two-year high due to policy expectations tied to the recent elections. In contrast, there has been some resilience shown in the Asian markets, particularly in Japan and China, which experienced mixed results in their market indexes.