News
This one chart shows why January’s stock rally hit a wall in February
Published
1 year agoon
By
New Yorker
Traders work on the floor of the New York Stock Exchange (NYSE) as a screen shows Federal Reserve Board Chairman Jerome Powell during a news conference following a Fed rate announcement, in New York City, February 1, 2023.
Andrew Kelly | Reuters
The stock market has done a complete 180. After rising 6.2% in January, the broad-based S&P 500 index has fallen nearly 2% so far in February — following a big drop on Tuesday.
What happened? Two words: inflationary data.
Source: CNBC
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