AI Image
Stocks close with slight losses as Fed fuels hope that rate hikes can wait
MarketWatch • • business
Key Points:
- Stocks closed Tuesday with slight losses as investors reacted to optimistic comments from New York Fed President John Williams regarding the timing of interest-rate hikes.
- Williams suggested in a midafternoon speech that the next rate hike might be delayed until December, reducing market expectations for an October 28 increase from 70% to around 50%.
- The yield on the benchmark 10-year Treasury note reached a 19-year high of 5.2932% intraday before closing at 5.256%.
