US stocks take the chin as bad news is now bad news for stocks

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Not too long ago, bad news was good news for stocks as traders believed the Fed would be able to stage a soft landing, bring inflation down while growth held steady .

Now, bad news is bad news as the Fed intends to hike rates to slow growth and drive up unemployment, threatening to trigger a hard landing. News from FedEx overnight added to concerns as it is a barometer of the global economy.

The lowest price of the year hit 10565.14 on June 16th.

The NASDAQ index fell below last week’s low at the open

Strongest to weakest major currencies

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