After Inflation Report, Markets Anticipate Aggressive Fed Response, Deeper Economic Recession

After Inflation Report, Markets Anticipate Aggressive Fed Response, Deeper Economic Recession
Trader James MacGilvray works on the floor of New York Stock Exchange on May 16, 2022. Courtney Crow/New York Stock Exchange via AP
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U.S. financial markets are bracing for a more aggressive Federal Reserve and a deeper economic downturn following the latest inflation data.

The Dow Jones Industrial Average plunged by more than 800 points, the S&P 500 dropped by nearly 3 percent, and the Nasdaq Composite Index plummeted by more than 400 points.

Andrew Moran
Andrew Moran
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Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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