Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

• Dow drops 100 points after the Fed dashes hopes for a pivot to softer tightening stance
• Markets will likely continue to seesaw until it is clear inflation has cooled off and that the Fed has stopped marching rates higher, but traders split over where interest rates are headed. Any data that shows the U.S. economy isn’t slowing as the central bank tightens policy will likely weigh on stocks.
• “In our view, the risk-reward for markets over the next three to six months is unfavorable, and today’s Fed statement supports that view”

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