The TradFi market is under pressure and US stocks are correcting📉📉
TradFi markets came under pressure heading into the weekend as traders continued to reduce exposure heading into the low-liquidity summer, with the S&P 500 down 0.8%, with losses in every sector, the highest level since March. The worst weekly performance since then (-1.4%), but the index has been rising for 5 consecutive weeks, and a correction is bound to happen sooner or later.
On the data front, manufacturing PMIs in both the US and Europe disappointed, while the Bank of England's 50 basis point rate hike last Thursday was a stark reminder that Europe is still grappling with inflationary headwinds.
TradFi markets came under pressure heading into the weekend as traders continued to reduce exposure heading into the low-liquidity summer, with the S&P 500 down 0.8%, with losses in every sector, the highest level since March. The worst weekly performance since then (-1.4%), but the index has been rising for 5 consecutive weeks, and a correction is bound to happen sooner or later.
On the data front, manufacturing PMIs in both the US and Europe disappointed, while the Bank of England's 50 basis point rate hike last Thursday was a stark reminder that Europe is still grappling with inflationary headwinds.