Stocks have continued to struggle for direction since a hotter-than-expected inflation report earlier this week dragged markets to their worst single-day drop since June 2020, with the Dow plunging over 1,200 points.
While inflation remains stubbornly high, investors have grown increasingly concerned that the Federal Reserve will plunge the economy into a recession as it continues to aggressively raise interest rates.
Though most Wall Street experts still predict that the Federal Reserve will raise interest rates by 75 basis points at its policy meeting next week, expectations for a more aggressive 100-basis-point hike have slowly been rising.
