S&P 500 Set for Decline Amid Rising Interest Rates and Economic Pressures By Investing.com

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S&P 500 Set for Decline Amid Rising Interest Rates and Economic Pressures

Published Sep 29, 2023 15:50

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S&P 500 Set for Decline Amid Rising Interest Rates and Economic Pressures

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The S&P 500 is poised for a downturn due to a combination of high interest rates and various economic pressures, which include the threat of a government shutdown, autoworker strikes, and escalating oil prices. Seth Bernstein from AllianceBernstein (NYSE:AB) expressed concerns on Friday about the potential for significant repercussions on global growth should these high interest rates continue.

Investors are echoing Bernstein's concerns, as indicated by the struggling stock market. According to data from EPFR Global, investment in U.S. stocks has remained flat, while there has been a notable shift into safe-haven money market funds. This trend suggests that investors are seeking more secure options amidst the current economic uncertainty.

Adding to these pressures, Freddie Mac reported on Friday that the average 30-year fixed-rate mortgage has reached a nearly 23-year high. This increase in mortgage rates is another reflection of the ongoing economic strains and high interest rates.

These developments underline the challenges faced by investors and global markets at large, as they navigate through an environment marked by high interest rates and multiple economic pressures. The potential impact on global growth remains a key concern for market watchers like Bernstein, as they monitor the unfolding situation.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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