US stock market has its worst week since January after Fed hints it could turn off the spigots as inflation threatens to spiral out of control
The Dow Jones Industrial Average sinks 3.5 percent for the week
The decline is good for the DJIA's worst loss since the end of January
The S&P 500 fell about 1.8 percent this week - its worst loss since February
Despite the rough week, stocks are still up strongly for the year
So far in 2021, the S&P 500, the broadest gauge of the market is up nearly 13%
Short-term rates were believed to be increased in late 2023, but St. Louis Federal Reserve President James Bullard said he believes that can happen in 2022
'We're expecting a good year, a good reopening. But this is a bigger year than we were expecting, more inflation than we were expecting,' Bullard told CNBC.
By Christopher Eberhart For Dailymail.Com and Associated Press
Published: 05:46 EDT, 18 June 2021 | Updated: 16:52 EDT, 18 June 2021
US stocks logged their worst week since January after Federal Reserve officials said they'd likely turn off the spigots of cheap money sooner than they had expected as inflation picks up speed and threatens to spiral out of control.
The S&P 500 closed the week down about 1.8 percent, its worst loss since February.
The Dow Jones Industrial Average fell 3.5 percent for the week, turning in its worst loss since the end of January.
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https://www.dailymail.co.uk/news/article-9700473/Global-shares-mixed-markets-digest-Fed-moves.html
