Market Drama
Featuring Zoe CEO & Founder, Andres Garcia-Amaya, CFA
Watch Time: 2 min.
Welcome to this week’s Market Drama!
Stock Market Update:
- S&P 500: Down 1.5% for the week; now down 14% from its Feb 19th high.
- Nasdaq: Down 2.6% for the week.
- Selloff Drivers:
- New U.S. export restrictions on semiconductors to China pressured major chip stocks like Nvidia.
- Fed signals caution on rate cuts due to inflation concerns tied to tariffs.
Economic Update:
- Fed Outlook:
- Chair Powell: The Fed will remain patient on rate cuts.
- Tariffs = inflationary, making it harder to justify lowering rates unless job data weakens.
- Current employment remains strong, giving the Fed little urgency to act.
Next Week:
- PMIs.
Stay tuned for next week.
– Andres
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