S&P 500 meets key daily support after hawkish Fed hike – by fx_ross Equities Fed DollarIndex YieldCurve
The S&P 500 index is retesting the W-formation's neckline and potential support at a 78.6% Fibonacci retracement level. turned lower after the Federal Reserve raised rates by half a percentage point. However, while the Fed has downshifted the pace of tightening, the message given to the financial markets is that they’re not done yet.
The S&P 500 was moving off its lows of 3,965.65 to retest the 4,030s. At the time of writing, the index is trading down 0.6% at 3,995.33. There has been a mirror image in price action across the Nasdaq and Dow Jones as well. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
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