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U.S. Stocks Fall on Reduced Rate Cut Expectations, Tesla Losses

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U.S. Stocks,Interest Rate Cuts,Tesla

U.S. stocks fell sharply on Tuesday, weighed by reduced expectations for early interest rate cuts as well as hefty losses by EV heavyweight Tesla. The strong U.S. manufacturing activity data on Monday saw traders push back expectations of the Federal Reserve's first interest rate cut this year. The U.S. economy is expected to have added 205,000 jobs in March, slowing from the 275,000 jobs added in February, amid hopes that the economy is set for a "soft landing", in which inflation moderates but the economy avoids a severe downturn. A host of Fed officials including New York Fed President John Williams, Cleveland Fed President Loretta Mester and San Francisco President Mary Daly are also scheduled to speak later in the day. The CME's FedWatch tool now factors in around 62% odds of a Fed rate cut in June, down from about 70% probability a week ago

U.S. stocks fell sharply on Tuesday due to reduced expectations for early interest rate cut s and heavy losses by Tesla . The strong U.S. manufacturing activity data on Monday pushed back expectations of the Federal Reserve 's first interest rate cut this year.

The U.S. economy is expected to have added 205,000 jobs in March, slowing from the previous month. Fed officials are scheduled to speak later in the day. The CME's FedWatch tool now predicts a 62% chance of a Fed rate cut in June.

Source: News Formal (newsformal.com)

U.S. Stocks Interest Rate Cuts Tesla Manufacturing Activity Federal Reserve Jobs Economy Inflation Fed Officials Rate Cut

 

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