The S&P 500 and the Nasdaq slipped on Wednesday on fears of a U.S. recession.
Traders work on the trading floor at the New York Stock Exchange in New York City, U.S., March 31, 2023. REUTERS/Andrew KellyFedEx up, company to consolidate operating divisionsApril 5 - The S&P 500 and the Nasdaq slipped on Wednesday as weaker-than-expected private payrolls data for March deepened worries that the rapid interest rate hikes by the Federal Reserve may tip the U.S. economy into a recession.showed U.S.
With growing concerns about a worsening economic outlook following the recent turmoil in the banking sector, market expectations have shifted in favor of the U.S. central bank hitting the brakes on its interest rate hikes. Traders' bets of a pause by the Fed in May shot up to 60.8%, while odds of a 25-basis point interest rate hike fell to 39.2%, according to CME Group's Fedwatch tool.
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