Posted 11/6/2023, 5:08:14 PM
Stocks Sink in October as Rate Hike Fears Rise Despite Strong Economic Data
- U.S. equities fell in October, with the S&P 500 and Nasdaq entering correction territory as yields rose.
- Geopolitical risks and volatility increased, weighing on markets despite solid economic data.
- Strength in retail sales and GDP raised expectations for more rate hikes, concerning investors.
- The flight to safety boosted the dollar and hurt small caps and cyclical sectors.
- International equities declined, though China announced stimulus amid growth worries.