The S & P 500 sank 1.4% and was heading for a losing week and its worst day since October. That’s made the broad stock market look more expensive by a range of measures, which has critics calling for at least a fade. Stocks had been broadly roaring since Election Day, when Trump’s victory sent a jolt through financial markets worldwide. That's forced traders to recalibrate how much relief the Federal Reserve could provide for the economy next year through cuts to interest rates. On Thursday, Fed Chair Jerome Powell suggested the U.S. central bank will be cautious about future decisions on interest rates.

Source: ABC News November 15, 2024 15:20 UTC