The job market is still hot, but other markets are not.
Stocks staged spastic swings this week, soaring on May 4 amid optimism about interest rates, then plunging as investors remembered there’s an array of other risks. The S&P 500 index is down nearly 14% in 2022, while the tech-heavy Nasdaq is down 22%. It’s turning into a lousy year for stocks.
Mortgage rates have surged to 5.3%, an increase of two-and-a-half points in just 8 months. They’re now at the highest levels since 2010. This…
Source link
