{"id":1660722,"date":"2022-09-27T14:57:36","date_gmt":"2022-09-27T18:57:36","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1660722"},"modified":"2022-09-27T14:57:57","modified_gmt":"2022-09-27T18:57:57","slug":"sp-500-renews-slide-hits-near-two-year-low","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sp-500-renews-slide-hits-near-two-year-low\/","title":{"rendered":"S&#038;P 500 renews slide, hits near two-year low"},"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\">16<\/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%2Fsp-500-renews-slide-hits-near-two-year-low%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=1660722&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>NEW YORK (Reuters) \u2013     The S&#038;P 500 .SPX fell to its lowest level in almost two years on Tuesday on worries about super aggressive Federal Reserve policy tightening, trading under its old 2022 low from June and leaving investors appraising how much further stocks would have to fall before stabilizing.<\/p>\n<p>After the benchmark index fell more than 20% from its early January high to a low on June 16, which confirmed that the retreat was indeed a bear market, the S&#038;P then rallied into mid-August before running out of gas.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>That bear-market rally is now over.<\/p>\n[.N]  <\/p>\n<p>MARKET REACTION: STOCKS: The S&#038;P 500 lost 22.25 points, or 0.61%, to stand at  3,632.79. The Dow Jones Industrial Average fell 214.6 points, or 0.73%, to 29,046.21<\/p>\n<p>COMMENTS:<\/p>\n<p>CAROL SCHLEIF, DEPUTY CHIEF INVESTMENT OFFICER, BMO FAMILY OFFICE, MINNEAPOLIS, MINNESOTA<\/p>\n<p>\u201cIn my 40 years in the business, I\u2019ve never seen coincident bear market in both bonds and stocks so investors are unsettled with nowhere to hide\u201d<\/p>\n<p>\u201cNo one quite knows how to parse the global data, geopolitics or policy moves \u2013 both super stimulative and restrictive, so markets are unsure which to hinge to\u201d<\/p>\n<p>\u201cSentiment has become very bearish (which is a long term positive for potential market rebound) \u2013 but it can stay bearish for a bit.\u00a0 Also, no overt catalysts to propel breakout to the upside\u201d<\/p>\n<p>\u201cMarkets had \u201cfought the Fed\u201d all year, hoping for more dovish tilt soon.\u00a0 Fed\u2019s message last week was unequivocal, so even though some of the data is supportive of peaked inflation, investor sentiment is approaching wash out level.\u201d<\/p>\n<p>MICHAEL PURVES, CHIEF EXECUTIVE, TALLBACKEN CAPITAL ADVISORS, NEW YORK<\/p>\n<p>\u00a0\u00a0\u00a0 \u201cI am a little bit less concerned about a new closing low. I think that is an interesting data point but it doesn\u2019t really mean we can\u2019t get a very substantial relief rally, nor does it mean we can\u2019t go further down too.\u201d<\/p>\n<p>\u00a0\u00a0\u00a0 \u201cWhat equity volatility really needs is Treasury volatility to come in here and they are not \u2026 we are just seeing yields sky-rocketing.\u201d<\/p>\n<p>\u00a0\u00a0\u00a0 \u201cThe bond market is king here, you got to respect that.\u201d\u00a0\u00a0\u00a0 <\/p>\n<p>\u00a0\u00a0\u00a0\u00a0\u201cI think there is a good scenario where once we get through the bond market violence we get to a more tradable bottom. There is a good case for that to happen if we get some inflation data that is a lot less scary than the last report.\u201d<\/p>\n<p>ROBERT PAVLIK, SENIOR PORTFOLIO MANAGER, DAKOTA WEALTH, IN FAIRFIELD, CONNECTICUT\u00a0\u00a0\u00a0\u00a0\u201cIt\u2019s disappointing, but it\u2019s not a surprise. We\u2019ve been heading that way.\u201d\u00a0\u00a0\u00a0\u00a0\u201cPeople are concerned about the Federal Reserve, the direction of interest rates, the health of the economy, and also the next couple of weeks with earnings season coming up and companies reporting lower-than-expected earnings.\u201d\u00a0\u00a0(The support level for the S&#038;P is)\u00a0\u201ca stretch at 3400, maybe 3200 and the worst case is probably 3000.\u201d<\/p>\n<p>\u00a0 \u00a0 TIM GHRISKEY, SENIOR PORTFOLIO STRATEGIST, INGALLS &#038; SNYDER, NEW YORK <\/p>\n<p>\u00a0 \u00a0 \u201cIt\u2019s all about the Fed, and as long as the Fed continues to raise rates, and investors don\u2019t anticipate an end of the rate hikes, I think this market is going to continue to be weak. Having said that, we\u2019ve seen a number of bear market rallies, year to date. So, would I be surprised to see the market bounce up again? No, I wouldn\u2019t. Traders are looking for opportunities like that. But in terms of a sustained rally, I think it really takes anticipating the end of Fed rate hikes.\u201d \u00a0<\/p>\n<p> (Americas Economics and Markets Desk; +1-646 223-6300)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/business\/sp-500-renews-slide\/attachment\/traders-work-on-the-floor-of-the-nyse-in-new-18\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/09\/tagreuters.com2022binary_LYNXMPEI8Q0T3-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI8Q0T3-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK (Reuters) \u2013 The S&#038;P 500 .SPX fell to its lowest level in almost two years on Tuesday on worries about super aggressive Federal Reserve policy tightening, trading under<\/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-1660722","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\/1660722","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=1660722"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1660722\/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=1660722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1660722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1660722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}