Financial News and Portfolio Management Discussion through February 10th
Global stocks saw volatility return in a big way with huge day to day market swings. Global markets ended down significantly over the week. The S&P 500 and Dow both plunged 5.2% for the worst week in over two years. Internationally, Japan plummeted 8.1% and Europe sank 5.0% for the week. The yield on the 10 year Treasury eased slightly ending the week at 2.83%. Oil fell 9.5% to $59.20 a barrel for its worst week in over two years.
The Bank of England said it expects to raise interest rates at a faster pace than it did just a few months ago given the pace of growth.
Congressional leaders were able to strike a 2 year spending deal averting another government shutdown.
Reposted from the Raffa Wealth Management Blog.
All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.