$580B wiped from #USStocks at the open.
The pressure is coming from multiple sides: oil just hit a 5-week high, September Fed rate-hike odds jumped to 66.4%, and the US 2-year yield touched an 18-month high.
Higher oil could keep inflation sticky, while rising yields make the Fed less likely to ease a pretty rough combo for risk assets.
Markets are clearly feeling the pressure today.
The pressure is coming from multiple sides: oil just hit a 5-week high, September Fed rate-hike odds jumped to 66.4%, and the US 2-year yield touched an 18-month high.
Higher oil could keep inflation sticky, while rising yields make the Fed less likely to ease a pretty rough combo for risk assets.
Markets are clearly feeling the pressure today.
