{"id":527558,"date":"2022-12-15T19:35:39","date_gmt":"2022-12-15T16:35:39","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dow-tumbles-more-than-700-points-on-angst-over-hawkish-fed\/"},"modified":"2022-12-15T19:35:39","modified_gmt":"2022-12-15T16:35:39","slug":"dow-tumbles-more-than-700-points-on-angst-over-hawkish-fed","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dow-tumbles-more-than-700-points-on-angst-over-hawkish-fed\/","title":{"rendered":"#Dow tumbles more than 700 points on angst over hawkish Fed"},"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-6a2fcd32f26e3\" 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-6a2fcd32f26e3\" 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-tumbles-more-than-700-points-on-angst-over-hawkish-fed\/#%E2%80%9CDow_tumbles_more_than_700_points_on_angst_over_hawkish_Fed%E2%80%9D\" >&#8220;Dow tumbles more than 700 points on angst over hawkish Fed&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CDow_tumbles_more_than_700_points_on_angst_over_hawkish_Fed%E2%80%9D\"><\/span>&#8220;Dow tumbles more than 700 points on angst over hawkish Fed&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/dow-stocks-fall-1.jpg?quality=90&amp;strip=all\" \/><\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Wall Street\u2019s main stock indexes slid more than 2%\u00a0on Thursday\u00a0as the Federal Reserve\u2019s guidance to stick to protracted policy tightening quelled hopes of the rate-hike cycle ending anytime soon.<\/p>\n<p>The Dow Jones Industrial Average\u00a0tumbled 727 points, or 2.1%, at 33,238, the S&amp;P 500\u00a0was down 2.4%, and the Nasdaq Composite\u00a0was down 2.9%.<\/p>\n<p>The central bank\u00a0hiked rates\u00a0by 50 basis points on Wednesday, slowing down from four back-to-back 75 bps hikes, although Fed Chair Jerome Powell said\u00a0recent signs of weakening inflation\u00a0have not brought any confidence yet that the fight had been won.<\/p>\n<p>The Fed\u2019s policy-setting committee projected it would continue raising rates to above 5% in 2023, a level not seen since a steep economic downturn in 2007.<\/p>\n<p>\u201cThe issue was the market was looking for rate cuts in 2023 and that\u2019s not compatible with any credible economic scenario because you\u2019d need to have quite a collapse in economic activity and a speedy deterioration of the labor market,\u201d said Willem Sels, global CIO, private banking and wealth management at HSBC.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>Money market participants currently expect at least two 25 bps rate hikes next year and borrowing costs to peak at 4.9% in the first half, before falling to around 4.4% by the year end.\u00a0<\/p>\n<p>Wall Street\u2019s main indexes have staged a strong recovery\u00a0since hitting 2022 lows in October\u00a0on hopes of a less aggressive Fed,\u00a0but\u00a0the rally stalled in December\u00a0on the back of\u00a0mixed economic data and worrying corporate forecasts.<\/p>\n<p>Investors also digested\u00a0economic data\u00a0on Thursday that showed a steeper-than-expected decline in retail sales in November and the number of Americans filing for unemployment benefits falling last week, indicating a tight labor market.<\/p>\n<p>\u201cToday\u2019s data reinforces what Powell was saying yesterday that this is going to take time and the market seems to want to try and fast forward through the messy parts and it\u2019s just not going to be able to do that because the Fed is not going to let it,\u201d\u00a0said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.<\/p>\n<p>The\u00a0Bank of England\u00a0and the\u00a0European Central Bank\u00a0also raised their key interest rate by 50 bps each and indicated an extended hiking cycle in a bid to tame spiraling inflation.<\/p>\n<p>Shares of megacap companies\u00a0which are sensitive to rising rates fell.\u00a0<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">App<\/a>le, Amazon and\u00a0Microsoft\u00a0dropped\u00a0between 1% and 3%.<\/p>\n<p>Netflix\u00a0slumped\u00a06.8%\u00a0after a\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/digiday.com\/future-of-tv\/netflix-lets-advertisers-take-their-money-back-after-missing-viewership-targets\/#:~:text=Netflix%20is%20falling%20short%20of,according%20to%20five%20agency%20executives\">media report<\/a>\u00a0that the entertainment services firm would let its advertisers take their money back after missing viewership targets.\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 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> 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\/15\/dow-tumbles-more-than-700-points-on-angst-over-hawkish-fed\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Dow tumbles more than 700 points on angst over hawkish Fed&#8221; Wall Street\u2019s main stock indexes slid more than 2%\u00a0on Thursday\u00a0as the Federal Reserve\u2019s guidance to stick to protracted policy tightening quelled hopes of the rate-hike cycle ending anytime soon. The Dow Jones Industrial Average\u00a0tumbled 727 points, or 2.1%, at 33,238, the S&amp;P 500\u00a0was down&#8230;<\/p>\n","protected":false},"author":1,"featured_media":527559,"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-1.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[137263,73977,72388,70359,70360],"class_list":["post-527558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-12-15-22","tag-dow-jones-industrial-average","tag-stock-market","tag-stocks","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/527558","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=527558"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/527558\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/527559"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=527558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=527558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=527558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}