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Fed Holds, Markets Shake | Honolulu News
Description
Stocks plunged this week as the S&P 500, Dow, and Nasdaq all slid, with the Nasdaq now nearly 10% below its recent peak. Investors braced for a Fed rate hike—34% odds before markets opened—but the Fed held steady, sparking market uncertainty. While the Fed’s chair hinted bond markets may be doing the heavy lifting on inflation, longer-term yields surged, pushing mortgage rates to a yearly high. AI stocks like Nvidia took a beating as investors question if explosive growth is sustainable, rattling markets like South Korea’s tech-heavy index.
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