Stocks Slide, Rate Cut Bets Rise As Growth and Hiring Concerns Mount
• Stocks and US yields fall as investors assess economic outlook and central bank policy
• Softening data and Fed comments indicate potential for rate cuts in 2023 after hiking cycle ends
• Market odds of a March Fed rate cut now 64%, up from 35% a week ago
• JOLTS report shows job openings dropped in October to lowest since early 2021, signaling cooling labor demand
• ECB board member Schnabel says rate hikes can be taken off table given fall in inflation, signaling potential pivots