• The S&P 500 has declined nearly 20% so far this year.
•  The Federal Reserve’s current benchmark goal range is 1.50-1.75 percent.
•  Futures markets indicate that investors anticipate the rate to rise to 3.5% by early 2023.

Us Stocks: Wednesday’s Wall Street trading was choppy as traders evaluated recent indications of an impending economic downturn. Tuesday’s session was marked by steep declines.

Read More: US consumer confidence is at a 15-month low due to rising food & fuel prices

The blue-chip S&P 500 stock index fluctuated between tiny gains and losses before finishing the day 0.1% lower. The Nasdaq Composite, which focuses on technology, remained flat.

The tranquil day follows a tumultuous Tuesday, when a lackluster US consumer confidence survey fueled fears of a recession and precipitated heavy losses in both indices. The S&P 500 has declined nearly 20% so far this year.

The yield on 10-year US Treasury notes declined 0.08 percentage points to 3.10 percent on government bond markets, suggesting a higher price for the benchmark issue. The yield on Germany’s 10-year Bund declined 0.11 percentage points to 1.51%.

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Bond yields, which move in the opposite direction of their prices, tend to grow in unison with interest rate and inflation projections. Since the beginning of the year, the 10-year Treasury yield has more than doubled, although it has declined in recent weeks as fears of a probable recession have grown.

The Federal Reserve’s current benchmark goal range is 1.50-1.75 percent, and futures markets indicate that investors anticipate the rate to rise to 3.5% by early 2023. This projection decreased from 3.9% two weeks ago, as investors anticipated that a slowing economy will limit the amount of interest rate hikes needed to curb inflation.

Brent crude, the worldwide oil standard, declined 1.5% to $116.26 a barrel.