Last week was a very important – and very painful – week in the markets. We saw some hope on Friday, but we now find ourselves officially in bear market territory following the Fed’s decision to raise interest rates by 0.75% last week. That decision – which was not based on the Fed’s longstanding economic analysis – was initially well received. In fact, it was what the market was practically demanding. Until folks woke up Thursday morning and immediately had buyer’s remorse.
We’ve entered a phase of this downturn that is completely decoupled from the economic trends. Instead, sentiment is begetting sentiment.
Read more here: https://insightwealthgroup.com/the-weekly-insight-circular-sentiment-firing-squad/