Posted 3/5/2024, 3:15:00 PM
Stocks Slide From Highs on Rate Cut Uncertainty, But Target Surges on Strong Earnings
- US stocks slid on Tuesday, pulling further back from record highs due to uncertainty over interest rate cuts and strength of tech stocks
- Faith in upcoming Fed rate cuts took a hit after Atlanta Fed president said he only sees one cut this year
- Target earnings beat forecasts, helping shares surge over 10%
- On election impacts, Wells Fargo economist sees Republican sweep causing biggest deficit increase and yield curve steepening
- Target CEO says they are watching election carefully and want Target to be a "special place" for consumers during uncertain times