- US equity futures and European stocks dropped in the face of hawkish comments from Federal Reserve and European Central Bank officials that ramped up investors’ expectations of higher interest rates.
- Money market traders briefly priced a peak of 3.75% for the ECB’s deposit rate by October, up from 3.4% following the bank’s last meeting this month.
- The dollar rallied and bonds fell.
- Data on Thursday showed that US producer prices rebounded in January by the most since June.
- Investors have been upping their bets on how far the Fed will raise rates this tightening cycle.
Stock Market Today: Dow, S&P Live Updates for Feb. 17
US equity futures and European stocks dropped in the face of hawkish comments from Federal Reserve and European Central Bank officials that ramped up investors’ expectations of higher interest rates. The dollar rallied and bonds fell.
John Viljoen
/cloudfront-us-east-2.images.arcpublishing.com/reuters/GZSJLBABTNOCFORR6KZQFCLZRY.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/YBNLALGZHJNGLAHP74MUGH62DQ.jpg)
/cloudfront-us-east-2.images.arcpublishing.com/reuters/FMB4T6SYGBI5BDXPFYT3FG4AL4.jpg)
