At its lows today, the S&P 500 had never - ever since 1920 - started a year as badly as 2022... That's quite a record to break, and has sparked the hope in many that this kind of tumble in stocks will force The Fed's hand to pivot back to its traditional role of levitating stocks (we saw a sudden and big bounce intraday today which reminded us the gold ol' days of the PPT)... Nasdaq was down 5% before its exploded higher back into the green and Russell 2000 ripped from down 3% to up almost 3%... https://www.zerohedge.com/markets/ppt-rescues-sp-worst-ever-start-year-rate-hike-odds-tumble
The big reversal we had today is typical in an extended sell off. I doubt it was the PTT since global futures indexes were along for the same ride.
There is nothing wrong popping the stock bubbles. Market knows it well. Nothing to do with Fed. Fed will proceed as planned. But Fed can't really tame the inflation. It is a supply issue, not a monetary issue.
What ever it takes to keep the Kool aid pitcher full. Don''t even think about drinking some cold hard reality. Rate hikes are a given consumer credit is drying up and big business will have to get off the government's tit. Just think of all the wonder social benefit programs the current administration want to spend the US tax payers money on... Akuma.