‘B-A-D’: Traders Find Nowhere to Hide as Assets Sink on Fed Bets
- Tech stocks, Bitcoin, ARKK all plunge to end the week
- Traders brace for four half-point Fed hikes by year-end
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Friday is proving a washout for investors as increasingly bigger bets on Federal Reserve tightening prompted traders to offload risk and haven alike before the weekend.
The technology-heavy Nasdaq 100 is on track for its worst month since 2008, short-dated Treasuries sold off and oil prices tanked as traders priced in four half-point Fed hikes by year-end. Even gold is falling. The U.S. dollar was the lone gainer, rising 0.7% to touch the highest since June 2020.