{"id":521674,"date":"2022-12-05T22:37:35","date_gmt":"2022-12-05T19:37:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dow-plunges-as-economic-data-adds-to-fed-rate-hike-fears\/"},"modified":"2022-12-05T22:37:35","modified_gmt":"2022-12-05T19:37:35","slug":"dow-plunges-as-economic-data-adds-to-fed-rate-hike-fears","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dow-plunges-as-economic-data-adds-to-fed-rate-hike-fears\/","title":{"rendered":"#Dow plunges as economic data adds to Fed rate-hike fears"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3b531095000\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3b531095000\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/dow-plunges-as-economic-data-adds-to-fed-rate-hike-fears\/#%E2%80%9CDow_plunges_as_economic_data_adds_to_Fed_rate-hike_fears%E2%80%9D\" >&#8220;Dow plunges as economic data adds to Fed rate-hike fears&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CDow_plunges_as_economic_data_adds_to_Fed_rate-hike_fears%E2%80%9D\"><\/span>&#8220;Dow plunges as economic data adds to Fed rate-hike fears&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>US stocks plunged in trading Monday as some better-than-expected economic data sparked fresh anxiety among investors about Federal Reserve interest rate hikes.<\/p>\n<p>The Dow Jones Industrial Average was down 524 points, or 1.52%, in late afternoon trading. The tech-heavy Nasdaq fell 260 points, or 2.27%, while the broad-based S&amp;P 500 plunged 85 points, or 2.09%.<\/p>\n<p>The market selloff occurred after activity in the US services sector \u2014 the largest portion of the economy \u2014 came in stronger than expected for November, according to the Institute for Supply Management\u2019s survey. \u00a0<\/p>\n<p>Investors fear stronger economic trends will lead the Fed to implement more interest rates hikes and potentially \u201coversteer\u201d the economy into a recession.<\/p>\n<p>\u201cWhile that\u2019s good <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> for the growth outlook, it\u2019s not so great for the Fed trying to dampen demand and ease inflation,\u201d BMO Capital Markets economist Priscilla Thiagamoorthy told Reuters.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/dow-stocks-fall.jpg?w=1024\" alt=\"A trader works on the floor of the New York Stock Exchange Monday.\" class=\"wp-image-24900570\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/dow-stocks-fall.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/dow-stocks-fall.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/dow-stocks-fall.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Data showed US services industry activity unexpectedly picked up in November, with employment rebounding.<\/figcaption><figcaption><span class=\"credit\">REUTERS<\/span><\/figcaption><\/figure>\n<p>The market remains uncertain about the Fed\u2019s policy path ahead of the central bank\u2019s key final policy meeting of the year on Dec. 13 and 14. The next update on inflation is also expected next Tuesday, when the Bureau of Labor Statistics releases its latest Consumer Price Index data for November.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>Fed Chair Jerome Powell has repeatedly signaled that interest rate hikes will continue for the foreseeable future, though the exact size and pace of those hikes is dependent on economic data. In a speech last week, Powell warned the Fed could hike its benchmark by more than it initially expected as it aimed to bring down inflation.<\/p>\n<p>Investors are pricing in a nearly 75% probability that policymakers will hike the benchmark interest rate by a half-percentage point \u2014 a move that would signal the Fed is slowing the pace of its policy tightening. The Fed has hiked by three-quarters of percentage point at its last four meetings.<\/p>\n<p>However, the market still sees a 25% probability of another larger, three-quarter-point hike.<\/p>\n<p>\u201cClearly, equity markets want to move higher, but that\u2019s very dependent on inflation getting under control,\u201d Peter Essele, head of portfolio management at Commonwealth Financial Network,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.google.com\/url?q=https:\/\/www.cnbc.com\/2022\/12\/04\/stock-futures-are-little-changed-as-investors-enter-a-quiet-period-ahead-of-the-feds-december-policy-meeting.html&amp;source=gmail-imap&amp;ust=1670876821000000&amp;usg=AOvVaw3FJYLxt_Np_OCQet9X-4ea\">told CNBC<\/a>. \u201cAnd so, when you have above expectation prints on any econ number that comes out, that tends to fuel inflationary concerns, which sends rates higher.\u201d<\/p>\n<p>Tesla was among the day\u2019s biggest losers. Shares of the electric car maker fell nearly 7% after the company warned it could cut production of its Model Y by more than 20% in China due to weaker demand.<\/p>\n<p>In the cryptocurrency sector, bitcoin fell about 1% to $16,922 as the bankruptcy of FTX reverberates through the industry.<\/p>\n<p><em>With Post wires<\/em>\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/12\/05\/dow-plunges-as-economic-data-adds-to-fed-rate-hike-fears\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Dow plunges as economic data adds to Fed rate-hike fears&#8221; US stocks plunged in trading Monday as some better-than-expected economic data sparked fresh anxiety among investors about Federal Reserve interest rate hikes. The Dow Jones Industrial Average was down 524 points, or 1.52%, in late afternoon trading. The tech-heavy Nasdaq fell 260 points, or 2.27%,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":521675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/dow-stocks-fall.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[136779,73977,5069,70550,72388,70359],"class_list":["post-521674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-12-5-22","tag-dow-jones-industrial-average","tag-economy","tag-federal-reserve","tag-stock-market","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/521674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=521674"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/521674\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/521675"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=521674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=521674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=521674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}