Fed’s Messaging Fails As S&P 500 Approaches Bear Market Territory
At its apex yesterday, the Dow (DJIA) was up some 350+ points. All major averages were up greater than 1% going into the 2:00 p.m. EST FOMC rate hike announcement. By and large, market participants were expecting/anticipating a dovish Fed rate hike. By and large, that’s what they got. The problem then, as the major…
