Stocks Sell Off in Sharp Reversal of Post-FOMC Rally

Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.1 • 1.1K Ratings

🗓️ 6 May 2022

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

U.S. equity indexes rallied hard during Jerome Powell’s post-Federal Open Market Committee meeting press conference yesterday, posting the biggest rally in two years because the Federal Reserve Chair said the central bank was not “actively considering” a 75-basis-point rate hike. Today, 95% of the S&P 500 is trading lower, The Dow Jones Industrial Average is off more than 700 points, and the Nasdaq Composite is down more than 5%. The yield on the 10-year U.S. Treasury note surged as high as 3.106% before settling at 3.09%, its highest level since 2018, as investors seem to be more and more accepting of the fact that the Fed will continue to aggressively fight inflation, at the risk of equity valuations and economic growth. Tony Greer, founder of TG Macro, joins Real Vision’s Maggie Lake to talk about today’s price action and central bank policy as well as natural gas and other critical commodities. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/3vJLkLB Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Inflation, recession, stagflation, just what the hell is going on?
0:07.8	Hi there and thanks for tuning in to another Real Vision podcast, so what the hell is going
0:12.2	on?
0:13.2	We all want to know.
0:14.8	Here at Real Vision, we've debuted a special series called Global Recession is Everyone
0:18.9	Wrong.
0:19.9	We've caught on the world's best experts, including Juliet DeClerk, David Rosenberg,
0:23.9	Peter Zahehan, Pierre Anderem, and many more to try and help us make sense of things.
0:29.3	These real experts will be giving Real Vision members in-depth long-form analysis on
0:33.4	the real stuff that's happening.
0:35.4	And best of all, you can get access to all 14 days of Global Recession is everyone wrong
0:40.4	for just $1.
0:42.0	Yep, $1.
0:44.3	So head over to RealVision.com slash Global Recession.
0:47.6	That's RealVision.com slash Global Recession to join us on this epic two-week journey of discovery.
0:59.3	Hi there, everyone.
1:04.9	Welcome to The Daily Briefing.
1:06.0	It's Thursday, May 5th.
1:07.2	I'm Maggie Lake and here with me today is Tony Greer, Editor of the Morning Navigator
1:11.6	Newsletter.
1:13.2	And Tony, it's a blood path in the U.S. markets today, complete opposite of what we saw
1:18.4	yesterday.
	...

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