Credit Fears Flash in Underbelly of Stocks as Fed Decision Nears
- Most-leveraged US companies are underperforming this month
- Investors see conditions tightening, hammering borrowers
The Marriner S. Eccles Federal Reserve building in Washington, DC.
Photographer: Al Drago/BloombergThis article is for subscribers only.
Just a few days after policy makers helped restore confidence in the global banking industry, a semblance of calm has returned to Wall Street.
Yet with a Federal Reserve decision on interest rates looming, the companies that are the most exposed to rising borrowing costs are being shunned in the underbelly of the stock market.