Investors Brace for Another , Federal Reserve Rate Hike.
On September 20, stocks finished lower as investors await interest rate guidance from the Federal Reserve's policy meeting.
On September 20, stocks finished lower as investors await interest rate guidance from the Federal Reserve's policy meeting.
Business Insider reports that investors are anticipating a 75-basis-point rate hike from the central bank.
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The 2-year Treasury yield surged as high as 3.983% to hit the highest rate since 2007.
The 10-year yield rose as high 3.593% to reach its highest since April 2011.
Adding to the general sense of unease, a potential escalation in Russia's war on Ukraine sent stocks in Moscow tumbling.
S&P 500 was at 3,855.93, down 1.13% at the closing bell.
The Dow Jones Industrial Average fell to 30,706.23, down 1.01%.
Oil continued to slide with West Texas Intermediate slipping 1.53% to $84.42.
Gold also dropped 0.68% to reach $1,664.75 an ounce.
Bitcoin fought back to reach $19,043.29, a 0.73% gain.
Carlyle Group co-founder David Rubenstein warned that a Fed rate hike of 100 basis points would cause further turmoil in markets and add to fears of inflation.
Carlyle Group co-founder David Rubenstein warned that a Fed rate hike of 100 basis points would cause further turmoil in markets and add to fears of inflation
