The stock market saw a brutal series of selloffs last week.
Wall Street investors’ nerves came amid disappointing inflation news and a decision from the Federal Reserve to aggressively raise interest rates. While the Dow Jones Industrial Average and the Nasdaq Composite fell 4.8% over the course of the week, the S&P 500 was down 5.8% — marking its worst week since 2020, according to CNBC.
Last Monday, a yield curve inversion — a phenomenon in the bond market that Wall Street watches as a recession indicator — rocked the financial world. An inverted yield curve historically precedes recessions by six months to two years, as indicated by data from the Federal Reserve Bank of St. Louis.
Trending: BO POLNY DELETED!
Another series of selloffs occurred during the week ending on June