The selloff has come as investors and the Federal Reserve reevaluate the need for interest rate cuts in the face of resilient economic data and signs of strength in the labor market. In an appearance on Tuesday, Fed Chair Jerome Powell was among several Fed speakers over recent days who have said they would need to see drivers of inflation weaken before cutting rates.
Wall Street Week Ahead:Investors to pore over inflation data for signals on rate trajectory
Investors await crucial inflation data next week which may decide the Fed’s interest rate move. The S&P 500 index is nearing its record high while