New incremental AI revenue may take time. The maker of graphics processors reports it earnings after the market close Wednesday. Read More...
Reuters
Wall St posts worst day of 2023 on higher-for-longer rate fears
For the S&P 500 and Nasdaq Composite, it was their third session in a row closing lower, while the decline in the Dow Jones Industrial wiped out its gains for 2023. The falls came after the S&P Global Purchasing Manufacturer’s index, which reflects business activity in the United States, returned to expansion for the first time in eight months in February. With inflation still far from the Fed’s 2% target, and the economy retaining much of its vigor, money market participants have been revising upwards where they see the Fed fund rates peaking – currently at 5.35% in July and staying near those levels throughout the year.
