Reported 2 months ago
Bank of America's Michael Hartnett warns that stocks are expected to decline following the Federal Reserve's first interest-rate cut, which he believes will indicate a hard landing for the US economy. Historical patterns since 1970 show that such rate cuts, especially amid economic downturns, often lead to negative outcomes for stocks. Hartnett notes that volatility is rising and the equity market is already weakening as investors prepare for potential rapid easing by the Fed later this year.
Source: YAHOO