'The Fed isn't about to 'pivot' and there is more monetary tightening to come,' said one analyst.
Wall Street is at its worst levels in almost two years Friday as the end nears for what's been a miserable month for markets around the world.
The Fed's preferred measure of inflation showed it was worse last month than economists expected. That should keep the Fed on trackand hold them at high levels for some time, as it's loudly and repeatedly promised to do. "The Fed isn't about to 'pivot' and there is more monetary tightening to come ," said analyst Adam Crisafulli of Vital Knowledge in a research note.
Cruise ship operator Carnival dropped 21% for one of Wall Street's worst losses after it reported a bigger loss for its latest quarter than analysts expected and revenue that fell short of expectations.
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