{"id":1619425,"date":"2022-08-22T18:23:24","date_gmt":"2022-08-22T22:23:24","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1619425"},"modified":"2022-08-22T18:23:42","modified_gmt":"2022-08-22T22:23:42","slug":"wall-street-ends-sharply-lower-on-fears-of-aggressive-fed","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-street-ends-sharply-lower-on-fears-of-aggressive-fed\/","title":{"rendered":"Wall Street ends sharply lower on fears of aggressive Fed"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwall-street-ends-sharply-lower-on-fears-of-aggressive-fed%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1619425&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Noel Randewich and Bansari Mayur Kamdar<\/p>\n<p>(Reuters) \u2013     Wall Street ended sharply lower on Monday as investors fretted about a U.S. Federal Reserve gathering later this week in Jackson Hole, Wyoming, that is expected to reinforce a strong commitment by the central bank to stamp out inflation.<\/p>\n<p>All 11 S&#038;P 500 sector indexes declined, led lower by consumer discretionary, down 2.84%, followed by a 2.78% loss in information technology.<\/p>\n<p>Nvidia Corp dropped 4.6% and Amazon.com Inc fell 3.6%, while Microsoft Corp and Apple Inc each lost more than 2% as the benchmark 10-year U.S. Treasury yield rose to its highest since July 21. [US\/]\n<p>Technology and other higher-growth stocks often fall when bond yields rise.<\/p>\n<p>After a summer rally on Wall Street ended last week, the S&#038;P 500 remains down about 13% so far in 2022, and the Nasdaq is down more than 20%.<\/p>\n<p>The CBOE Volatility index, Wall Street\u2019s fear gauge, rose to 23.9, its highest in over two weeks.<\/p>\n<p>Focus is on Fed Chair Jerome Powell\u2019s speech on Friday at the central banking conference in Jackson Hole for further cues on how aggressively the Fed is likely to be with future interest rate hikes.<\/p>\n<p>\u201cPowell is going to try to sound hawkish to tamp down inflationary expectations and tighten financial conditions. So that\u2019s most likely going to be a negative catalyst for the market,\u201d warned Jay Hatfield, chief investment officer at Infrastructure Capital Management in New York.<\/p>\n<p>The Fed will probably raise interest rates by 50 basis points in September, according to economists polled by Reuters.<\/p>\n<p>However, traders are split between a 50 bps hike and a 75 bps hike by the central bank after several policymakers recently pushed back against expectations of a dovish pivot and emphasized the Fed\u2019s commitment to fight against inflation. [FEDWATCH]\n<p>Investors will also be looking for details on the Fed\u2019s plans to reduce its nearly $9 trillion balance sheet, a process that started in June.   <\/p>\n<p>The S&#038;P 500 declined 2.14% to end the session at 4,137.99 points.<\/p>\n<p>The Nasdaq declined 2.55% to 12,381.57 points, while Dow Jones Industrial Average declined 1.91% to 33,063.61 points.<\/p>\n<p>Slowdown fears hit markets globally. China\u2019s central bank trimmed some key lending rates on Monday in a bid to support a slowing economy and a stressed housing sector.<\/p>\n<p>Also bleeding into negative sentiment on Wall Street, European shares dropped after Russia\u2019s Gazprom said last week it would halt natural gas supplies to Europe for three days at the end of August.<\/p>\n<p>AMC Entertainment Holdings Inc tumbled 42% after the cinema chain\u2019s preferred stock listing started trading and its UK-based rival Cineworld Group warned of a possible bankruptcy filing.<\/p>\n<p>Signify Health Inc surged 32% following a report on Sunday that UnitedHealth Group Inc, Amazon, CVS Health Corp and Option Care Health Inc were bidding to acquire the company.<\/p>\n<p>Declining stocks outnumbered rising ones within the S&#038;P 500 by a 19.9-to-one ratio.<\/p>\n<p>The S&#038;P 500 posted one new high and 32 new lows; the Nasdaq recorded 30 new highs and 171 new lows.<\/p>\n<p>Volume on U.S. exchanges was relatively light, with 9.9 billion shares traded, compared with an average of 10.8 billion shares over the previous 20 sessions.<\/p>\n<p> (Reporting by Bansari Mayur Kamdar and Devik Jain in Bengaluru, and by Noel Randewich in Oakland, Calif.; Editing by Marguerita Choy)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2740345\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI7L0NA-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI7L0NA-VIEWIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2740346\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI7L0NB-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI7L0NB-VIEWIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2740347\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI7L0ND-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI7L0ND-VIEWIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2740348\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI7L0NE-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI7L0NE-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Noel Randewich and Bansari Mayur Kamdar (Reuters) \u2013 Wall Street ended sharply lower on Monday as investors fretted about a U.S. Federal Reserve gathering later this week in Jackson<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1619425","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1619425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1619425"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1619425\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1619425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1619425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1619425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}