Stocks Fall Sharply As A Bout Of Market Volatility Continues
Newsy
The benchmark index has been slipping throughout January and is nearing so-called correction territory — a drop of 10% or more from its recent high.
Stocks fell sharply on Wall Street Tuesday, continuing a volatile bout of trading that has sent markets swinging between steep losses and gains as investors gauge several threats.
Persistently rising inflation has been hammering businesses and consumers. Investors expect the Federal Reserve to begin raising interest rates as soon as March, but they also fear that the Fed could either be moving too late or could be too aggressive in fighting inflation. The central bank will issue its latest policy statement Wednesday.
The virus pandemic still hovers over the economy and threatens to crimp progress with every new wave. And a potential conflict between Russia and Ukraine threatens to push energy prices even higher while forcing more countries to focus on fighting a war instead of inflation and COVID-19.
