Concerns about recession resurfaced among investors as the Fed continued to follow a hawkish path lined with interest rate hikes.
This led some companies in the US to change their earnings projections again, with several companies and analysts revising their outlook downward for the coming quarter.
The market also expects the Fed to raise its benchmark interest rate again at its November meeting.
According to FedWatch, 96.7% of market participants project that the Fed will raise its benchmark interest rate by 75 bp and bring the Fed funds rate to a range of 3.75%-4%.
Wall Street still tends to weaken despite the positive sentiment from the release of the financial performance of issuers in the US.
This led some companies in the US to change their earnings projections again, with several companies and analysts revising their outlook downward for the coming quarter.
According to FedWatch, 96.7% of market participants project that the Fed will raise its benchmark interest rate by 75 bp and bring the Fed funds rate to a range of 3.75%-4%.
Wall Street still tends to weaken despite the positive sentiment from the release of the financial performance of issuers in the US.
