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After last week’s hotter-than-expected inflation data, the Dow, S&P 500, and Nasdaq Composite have each shed around 2% of their value.
Even with the recent selloff, stock market prices still reflect the expectation the Fed will cut later this year, said Itay Goldstein, a finance professor at the University of Pennsylvania’s Wharton School of Business. “There is a risk there that if the Fed doesn’t decrease rates, market prices will decline.”
We can see a bit of an increase and then volatility after that.