Credit Fear Is Spreading

March 24, 2023
Author: Peter Stolcers, Founder of OneOption

The Fed did little to soften the tone. European banks are in the cross-hairs today.

PRE-OPEN MARKET COMMENTS FRIDAY – Often the initial reaction to the FOMC statement reverses overnight. Yesterday the market tried to bounce after the sell-off Wednesday, but that move only lasted 90 minutes. Sellers took advantage of the bounce and they drove the SPY back below the major moving averages. This morning the S&P 500 is down 35 points before the open.

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