EXPLAINER: Why is Wall Street back on the roller coaster?
By STAN CHOE
AP Business Writer
NEW YORK (AP) — After a strong summer, Wall Street is weakening again. Investments of all kinds had been soaring since the middle of June on hopes that the worst of inflation may be set to pass. That would allow the Federal Reserve to take it easier on interest-rate hikes. The rally was so strong that some investors questioned whether Wall Street’s bear market was over. But Fed officials have since pushed back on Wall Street’s narrative, causing stocks to fall and bond yields to rise again. That puts the focus on Friday, when Fed Chair Jerome Powell will give a highly anticipated speech in Wyoming.
