It’s been a terrible week in an awful year for the stock market. Walmart WMT, -2.74%, Target TGT, -5.06%, and Tencent 700, +3.53% each reported disappointing results to add fuel to the worries about interest-rate hikes and quantitative tightening. But, Melvin Capital aside, there haven’t been signs of capitulation.
S&P 500 falls again on Thursday, inching closer to bear market territory
The S&P 500 fell Thursday as the benchmark inched closer to a bear market. Investors continued to dump equities on fears Federal Reserve rate hikes to fight rapid inflation would tip the economy into a recession.
Stephen Roach calls stagflation his base case, warns market is unprepared for the consequences
Stagflation is making a comeback, according to former Morgan Stanley Asia chairman Stephen Roach. He warns the U.S. is on a dangerous path that leads to higher prices coupled with slower growth.