The stock market's nightmare scenario of a 50% drop is now more likely after the 'stubborn' Fed's biggest rate hike in decades, hedge-fund strategist says - Yahoo Canada Finance

"The 1970's drawdown scenario of almost 50% for the S&P 500 is becoming all the more likely," Peter Cecchini said.

The Federal Reserve's decision to hike interest rates by 75 basis points this week only increases the chances of a prolonged economic recession and a deep sell-off in the stock market, according … [+2558 chars]

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