Today, all major indexes lost, with Fed in focus. The DOWJ lost 0.86%, the S&P slid 1.29, and Nasdaq led the selloff by closing 2.01 lower. For the last month, investors have been betting on easing inflation, and less tightening by the Fed. However, statements from Fed officials and the meeting minutes suggested that inflation won't ease as easily as most investors hope. Bed Bath and Beyond, the meme stock that gained 123% in the last quarter lost 49% after billionaire investor Ryan Cohen got rid of all his shares. The Stock market's 4 week streak snapped this week.
As a result of the shift away from the risky assets crypto prices fell too, bitcoin slipped to around 23,000 dollars.
In foreign exchange markets, the dollar gained against both the euro and the Turkish lira, while Euro lost against both of the currencies.
In the Turkish market, the BIST100 wobbled through the day closing at +0.01%. The rate cuts yesterday are among the causes of this mixed trading. While the government insists the rate cut will have a positive effect on growth, some economists disagree.
In Europe, the pan-continental Stoxx 600 lost 0.8%.
The Shanghai Composite closed 0.06% lower, while other major Asian Stock Indexes, the Hang Sent and the Nikkei 225, closed flat.
The market data for this article was taken from Yahoo Finance.
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