The recent sharp selloff in common stocks is now three months old. It started rather innocently in August with light trading volumes, indicating more of a lack of buying interest rather than a rush by sellers to lower their exposure to stocks. Stock prices were also supported by Chair Powell’s remarks in late August that the Federal Reserve was in a position to proceed carefully with its future policy moves, indicating that the rate hiking cycle was close to being finished, if not finished.
Stock prices came under fairly aggressive selling pressure during September and October with the major market measures falling -4.8% to -12.5% over the two months. Investors’ anxiety rose as the House of Representatives removed Kevin McCarthy as speaker, leaving the House effectively paralyzed until a new speaker was elected three weeks later.
Easing Inflationary Pressures
Easing Inflationary Pressures
Equity Markets
Heavy Selling Pressure in September and October
The recent sharp selloff in common stocks is now three months old. It started rather innocently in August with light trading volumes, indicating more of a lack of buying interest rather than a rush by sellers to lower their exposure to stocks. Stock prices were also supported by Chair Powell’s remarks in late August that the Federal Reserve was in a position to proceed carefully with its future policy moves, indicating that the rate hiking cycle was close to being finished, if not finished.
Stock prices came under fairly aggressive selling pressure during September and October with the major market measures falling -4.8% to -12.5% over the two months. Investors’ anxiety rose as the House of Representatives removed Kevin McCarthy as speaker, leaving the House effectively paralyzed until a new speaker was elected three weeks later.
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