Wall Street’s Furious Bull Run Gets Reality Check: Markets Wrap
- Morgan Stanley’s Wilson says December to be rocky for stocks
- Bitcoin hovers near $42,000 as crypto rally gathers steam
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Wall Street kicked off the week with losses, with both stocks and bonds down in a signal that traders’ aggressive pricing of Federal Reserve rate cuts may have gone too far.
A slew of key jobs readings over the next few days will be closely watched for clues on the Fed’s next steps — with the potential to reignite volatility that has recently shown signs of anemia. Technically “overbought” conditions and bullish positioning have left markets vulnerable to corrections after the historic rallies in both equities and Treasuries last month.