From Bloomberg

Markets

Stocks Succumb to Bond-Market Rout as Fed Inflation Hawks Circle

• Rising rates, spike in commodities, war all causing volatility
• Meanwhile, investor tech darlings getting decimated: Gokhman

 

By Vildana Hajric and Katherine Grenfell
April 22, 2022, 8:16 PM UTC

A week that began brimming with economic optimism ended up caving in on stock bulls, who find themselves increasingly helpless in the face of determined Federal Reserve inflation fighters.

It was a stretch that may be remembered as the time bond investors reestablished themselves as rulers of the asset-market roost. Surging yields, whipped up by a belief Jerome Powell’s central bank will enact four half-point rate hikes by September, sent the S&P 500 to a third straight down week, only the second such stretch in 18 months.