The stock market is practically begging to be punished
CNN
The old joke goes like this: Two friends are at a resort and one says, "The food here is really terrible." The other replies, "And the portions are so small!" Today, it's investors who dislike the taste of the Federal Reserve's interest rate hikes but seemingly want more anyway.
Markets have plummeted over the past month as Federal Reserve telegraphed that it would regularly hike interest rates by half a percentage point for the foreseeable future to combat persistent inflation growth. The sell-off put the S&P 500 on the precipice of bear market territory: At one point last week, the market was down nearly 20% from its all-time high.
Now, investors are asking for more. They're calling for a three-quarter-point rate hike at the conclusion of the Fed's June meeting, despite Fed Chair Jerome Powell's assurances that an increase that high wasn't on the table.
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