Posted 1/4/2024, 7:32:37 AM
Markets Drop as Fed Minutes Dampen Hopes for Rate Cuts, Adding to Economic Uncertainty
- Fed minutes show uncertainty over whether and when rate cuts will happen in 2024, disappointing market expectations of 6 cuts
- U.S. markets fell sharply on Wednesday following the Fed minutes, with the 10-year Treasury yield briefly topping 4%
- Asia-Pacific markets also fell Thursday following Wall Street's losses, though India's Nifty 50 Index rose
- Richmond Fed President Barkin sees 4 key risks that could derail a soft economic landing
- Alibaba has stumbled in the past year with restructuring, canceled IPO; its shares have dropped 75% since 2020