Jerome Powell says the Federal Reserve will be nimble in formulating monetary policy. The stock market is running itself ragged trying to figure out where it will land.
Twice in two days, S&P 500 has erased a gains of roughly 2% to close the session lower. Such a streak of big back-to-back downside reversals has occurred only once before in Bloomberg’s four decades’ worth of data: October 2008. Equally big swings rocked the market on Monday and Tuesday.
