I think there are a few layers here. First of all, the Fed is clearly behind the curve. And their credibility has been damaged by what has happened with inflation and the monetary policy response over the last few months.
Mcap of top-10 most valued firms slumps Rs 4.95 lakh cr; TCS, Reliance hardest hit
The combined market valuation of all the top-10 most valued firms plunged Rs 4,95,061 crore last week, in line with a bearish trend in equities,