Posted 12/20/2023, 10:37:31 PM
Stocks Retreat on Growing Recession Worries for 2024 and Expected Fed Rate Cuts
- US stocks slipped as traders considered recession risks in 2024 and implications of expected Fed rate cuts
- Dow retreated from record highs after 9 straight days of gains, S&P 500 pulled back from near all-time high
- Markets worried rate cuts could signal slowing economy or path to recession already
- New York Fed sees 51% chance of recession by November 2024
- Markets pricing in 71% chance Fed cuts rates 150 basis points or more by end of 2023