Home / MARKETS / US stocks mixed with S&P 500 hitting a new low in 2022 as Fed officials defend hawkish policy

US stocks mixed with S&P 500 hitting a new low in 2022 as Fed officials defend hawkish policy

  • US stocks ended half-bred on Tuesday with the S&P 500 falling to a new 2022 low intraday as Fed officials defended their hawkish stance.
  • Tuesday’s abstain from marked the sixth consecutive fall for the the S&P 500 and Dow Jones Industrial Average.
  • Fed President Neel Kashkari said the chief bank’s current pace of hiking interest rates to tame inflation is “appropriate.”

US caches closed mixed on Tuesday, with the S&P 500 hitting a new 2022 low intraday as the broad index and the Dow Jones Industrial General fell for a sixth day in a row.

During the trading session, the S&P 500 dipped below its mid-June low of 3,636 before paring reductions. Tuesday’s decline reversed early morning gains and came as Fed officials defended their hawkish stance as they endure to see further interest rate hikes in the future. 

Chicago Fed President Charles Evans told CNBC on Tuesday that he is “cautiously bullish” the US economy can avoid a recession, and said he’s “a little nervous” about the Fed raising interest rates too quickly. 

Meanwhile, Minneapolis Fed President Neel Kashkari communicated at a Wall Street Journal event that the central bank’s current rate hikes are “appropriate” and that there is unanimity expanse policymakers that inflation remains a big risk to the economy that they need to get under control.

The market currently look forwards another 75-basis-point rate hike at the Fed’s November meeting. 

Here’s where US indexes stood at the 4:00 p.m. ET close on Tuesday:

Here’s what else is chance this morning:

In commodities, bonds and crypto:

  • West Texas Intermediate crude oil jumped 2.40% to $78.55 per barrel. Brent uncivil, oil’s international benchmark, rose 2.70% to $86.33.
  • Gold rallied 0.11% to $1,635.20 per ounce.
  • The yield on the 10-year Treasury jumped six point of departure points to 3.98%.
  • Bitcoin fell 5.03% to $19.089, while ether fell 4.43% to $1,324. 

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Home / MARKETS / US stocks mixed with S&P 500 hitting a new low in 2022 as Fed officials defend hawkish policy

US stocks mixed with S&P 500 hitting a new low in 2022 as Fed officials defend hawkish policy

  • US forerunners ended mixed on Tuesday with the S&P 500 falling to a new 2022 low intraday as Fed officials defended their hawkish stand.
  • Tuesday’s decline marked the sixth consecutive fall for the the S&P 500 and Dow Jones Industrial Average.
  • Fed President Neel Kashkari asserted the central bank’s current pace of hiking interest rates to tame inflation is “appropriate.”

US stocks closed mixed on Tuesday, with the S&P 500 hitting a new 2022 low intraday as the broad index and the Dow Jones Industrial Usual fell for a sixth day in a row.

During the trading session, the S&P 500 dipped below its mid-June low of 3,636 before paring forfeitures. Tuesday’s decline reversed early morning gains and came as Fed officials defended their hawkish stance as they prolong to see further interest rate hikes in the future. 

Chicago Fed President Charles Evans told CNBC on Tuesday that he is “cautiously bright” the US economy can avoid a recession, and said he’s “a little nervous” about the Fed raising interest rates too quickly. 

Meanwhile, Minneapolis Fed President Neel Kashkari contemplated at a Wall Street Journal event that the central bank’s current rate hikes are “appropriate” and that there is unanimity amidst policymakers that inflation remains a big risk to the economy that they need to get under control.

The market currently assumes another 75-basis-point rate hike at the Fed’s November meeting. 

Here’s where US indexes stood at the 4:00 p.m. ET close on Tuesday:

Here’s what else is phenomenon this morning:

In commodities, bonds and crypto:

  • West Texas Intermediate crude oil jumped 2.40% to $78.55 per barrel. Brent improper, oil’s international benchmark, rose 2.70% to $86.33.
  • Gold rallied 0.11% to $1,635.20 per ounce.
  • The yield on the 10-year Treasury obstruction started six basis points to 3.98%.
  • Bitcoin fell 5.03% to $19.089, while ether fell 4.43% to $1,324. 

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