Stocks go into reverse on ‘hawkish’ Fed cut while Micron and Nike disappoint | Wall Street Week
The US market lost its recent momentum in a big way this past week as shares collapsed on the 18 December with the S&P 500 enduring its worst day since 2001.The trigger for the sell-off was a hawkish tone from the US Federal Reserve even as it announced its latest interest rate cut.With officials signaling growing concern over the threat posed by inflation, the market moved quickly to reset bets o