CNBC Daily Open: Markets fall as the Fed shows no sign of pivoting away from interest rate hikes
Publishing timestamp: 2023-02-22 18:27:59
Summary
The Federal Reserve's February meeting minutes revealed that members believe ongoing interest rate increases are necessary. St. Louis Federal Reserve President James Bullard favors aggressive rate hikes to quash inflation quickly. U.S. stocks ended Wednesday lower, though Nasdaq Composite eked out a small increase. Nvidia beat earnings and revenue expectations, and Coinbase's fourth-quarter results beat Wall Street's estimates. Despite the Fed's hawkishness, signs point to no-landing scenario, which should give investors some comfort.
Sentiment: MIXED
Keywords: markets, nvidia corp, interest rates, central banking, inflation, technology, world markets, jobs, federal reserve bank, cryptocurrency, coinbase global inc, business news,