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S&P 500 Closes Quarter at Lowest in Two Years: Markets Wrap

  • Fed officials restated their hawkish resolve all week
  • Jobs data next week will provide further Fed policy clues
Bloomberg business news
Stocks Will Test Lower Lows, CalSTRS CIO Ailman WarnsSource: Bloomberg
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US stocks suffered their worst monthly rout since March 2020 after markets were repeatedly pummeled by the Federal Reserve’s resolve to keep raising interest rates until inflation is under control. 

The S&P 500 closed a volatile session lower. The index posted its third straight quarter of losses for the first time since 2009. US Treasuries dropped Friday after a late selloff into the month-end, with the benchmark 10-year yield around 3.82%.