U.S. stock futures were diving on Monday, because there’s now no reason for investors to believe the Federal Reserve will lower interest rates anytime soon.
Friday’s hot jobs numbers have put Wall Street in a funk. The data give the Fed more reason to hold borrowing costs at their current level, which could put lofty valuations under pressure.
The mood could get even more dour this week. Wednesday’s Consumer Price Index is expected to show that inflation ticked up in December, which would strengthen the case for the central bank to stand pat.
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