FYI: Yesterday the Fed hiked short-term interest rates for the ninth time since 2015.
The stock market did not seem to care for this fact, as the S&P 500 fell more than 1.5% while the Nasdaq was off over 2.1%. Considering stocks are already in the midst of a double-digit drawdown, this result didn’t exactly provoke feelings of confidence in market participants.
It’s always difficult to pinpoint why markets do what they do on any given day, even when there’s a specific catalyst like a Fed action.
Regards,
Ted
https://awealthofcommonsense.com/2018/12/a-history-of-fed-rate-hikes/
