Posted 4/10/2024, 7:54:05 PM
Stocks Slide as Inflation Fears Spark Pullback from Recent Highs
- Equity markets facing pressure due to rising inflation data and bond yields
- Dow down over 400 points intraday; markets below key technical support levels
- Pullback is normal for an "overbought" bull market, could see S&P 500 fall to 4,800
- Rotation into materials, financials, energy stocks has helped prop up market breadth recently
- If economy stays resilient, buy the dip crowd could welcome a pullback around 5,000