The article discusses the recent sharp decline in the stock market, highlighting souring business and consumer sentiment as investors brace for potentially troubling economic data. The upcoming Federal Reserve meeting is a crucial focal point, especially with their latest interest rate decision and economic projections. Economic resilience has been maintained by a healthy labor market, allowing the Fed to keep interest rates high in light of persistent inflation. However, with the S&P 500 in correction territory, officials brush off concerns about the economy's stability, asserting it remains on firm ground.
The stock market has fallen fast over the past month, prompting concerns about economic resilience. Investors are apprehensive about upcoming economic data reflecting deeper issues.
Fed officials have largely avoided commenting on an uncertain outlook despite a healthy labor market allowing them to maintain high interest rates against stubborn inflation.
The S&P 500 briefly entered a correction last week after four consecutive weeks of losses, now 8.6% down from its record high last month.
Officials from the Trump administration have dismissed investors' fears, asserting that the economy remains stable despite the stock market's recent downturn.
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