⚠️BREAKING: *U.S. STOCKS TUMBLE AS WALL STREET BRACES FOR SUPERSIZED FED RATE HIKE - 🇺🇸 🇺🇸
The benchmarkhit 3.58%, its highest level since April 2011, while the closely watched yield curve between two-year and 10-year notes inverted further. [US/]
The U.S. central bank is widely expected to hike rates by a third-straight 75 basis points on Wednesday, with markets also pricing in a 19% chance of a 100 bps increase and expect terminal rate at 4.49% by March 2023. The S&P 500 is trading below 3,900 points, a level that was considered by technical analysts as a strong support for the index.
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