Stocks, Bonds Fall After Hawkish Brainard Remarks: Markets Wrap
- Fed governor says bank to shrink balance sheet at rapid pace
- New sanctions to be announced on Russia, hitting investments
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U.S. equities and bonds fell as traders weighed hawkish Federal Reserve commentary and a new round of potential sanctions on Russia, ratcheting up global tensions over Moscow’s invasion of Ukraine.
The S&P 500 declined, led by losses in technology and consumer discretionary, while Treasuries also retreated amid deepening concern about inflation and the policy response. Federal Reserve Governor Lael Brainard said the U.S. central bank will continue to tighten policy methodically and shrink its balance sheet at a rapid pace as soon as May.