Wall Street ended lower, with Meta and other Big Tech stocks dragging down the Nasdaq, while the S&P 500 extended its losing streak to four sessions
CEO Jamie Dimon said inflation will erode consumer spending power and that a mild to more pronounced recession was likely ahead.that believe the U.S. Federal Reserve's aggressive monetary tightening to combat stubbornly high price rises could induce an economic downturn in 2023.
He noted that, while markets traditionally reflect the future, right now they are moving up and down based on the latest headlines.The Wall Street entrance to the New York Stock Exchange is seen in New York City, U.S., November 15, 2022. REUTERS/Brendan McDermid/File PhotoFears about economic growth come amid a re-evaluation by traders of what path future interest rate hikes will take, following strong data on jobs and the services sector in recent days.
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