The Dow Jones Industrial Average gained 0.3% in the last trading session. However, the S&P 500 and the Nasdaq Composite posted third straight day losses of 0.1% and 0.03%. The S&P seems set to post its worst half-year since 1970.
The CBOE Volatility Index (^VIX) is up more than 15% this month, indicating rampant volatility. On top of it, Loretta Mester, President of the Federal Reserve’s Cleveland bank, stated that she expects benchmark lending rates to reach 3%-3.5% this year and above 4% next year, raising the recession concerns.
