Russian Railways crashes into default as sanctions hammer Moscow
The Market Is No Longer Ignoring a Slew of Negatives
Over the past week, the market has started to struggle again with worries about a hawkish Fed. Bonds are down for the sixth straight day, and there are concerns that inflationary pressures are starting to have an economic bite. Stocks enjoyed a very robust rally off the mid-March lows and are still in decent shape technically, but the Nasdaq, Nasdaq 100 , and Russell 2000 ETF are back under their 200-day simple moving average. Money has been rotating into precious metals, financials, energy, commodities, and defensive sectors.