In the last trading session, unimpressive earnings reports from major banks weighed in on the broader market, and the major indexes posted a second straight negative week this year. The Dow Jones Industrial Average (DJIA) slipped 0.56%, to 35,911.81. The tech-heavy Nasdaq shed 0.28% for the week, while the Dow and S&P 500 lost 0.88% and 0.30%, respectively.
Furthermore, on January 5, the Federal Reserve revealed that it expects to unwind its COVID-19 era asset purchases sooner and at a faster pace than it originally signaled. JP Morgan Chase & Co. (JPM) has predicted that quantitative tightening will start in July and reach a $100 billion monthly pace by year’s end. This might add to stock market volatility.
