Wind of panic on Wall Street: simple correction or prolonged depression?
January 24, 2022LIVE MARKETS Shakeout of dollar longs may be bullish for greenback
January 24, 2022A selloff in stocks and bond buying are caused by concerns going beyond US economic woes, Spartan’s Peter Cardillo says. “The safety trade is in progress as geopolitical fears overshadow the Fed fears,” he says as the major stock indexes fall around 2% or more and Treasury yields decline. The markets’ move has implications for the Fed, Cardillo says. “This factor might result in a less hawkish Fed communique pushing yields still lower.”