Stock Market Sees Largest Tumble of 2023 Due to Uncertainty in Interest Rates

Wall Street Journal: U.S. stock indexes suffered their worst session of the year Tuesday, dragged down by a disappointing forecast from Home Depot and growing concerns that the Federal Reserve will keep interest rates higher for longer. After rallying sharply to kick off 2023, stocks have stumbled in recent weeks as hot economic data have made investors anxious about the trajectory of U.S. monetary policy. Although inflation has fallen from its recent peak, it remains high. The unemployment rate has fallen to a 53-year low, and retail sales are growing at a healthy clip. That combination has led investors to expect the Fed to continue raising interest rates and then keep them elevated for longer (Wall Street Journal).