Stocks, Bonds Decline for the Week After Fed Pivot: Markets Wrap
- A dollar index saw its worst drop this month on Friday
- Brazilian markets rebounded after central bank intervention
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Major US stock indexes saw their worst week since mid-November after the Federal Reserve’s decision to be more cautious about cutting interest rates next year roiled markets. Treasuries sold off for a second consecutive week.
The S&P 500 and the Nasdaq 100 rose on Friday — paring what would have been a steeper weekly selloff — after fresh data calmed anxieties about inflation. Bloomberg’s dollar gauge saw its worst drop this month, but was still higher for the third straight week. While Treasury yields are lower across the curve on Friday, the 10-year rate has climbed more than 10 basis points this week.