Wall Street

Rising expectations of aggressive Fed move this week roil markets

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Reuters

SINGAPORE/NEW YORK (Reuters) -Rising expectations that the Federal Reserve this week will raise interest rates by more than previously forecast unsettled investors on Monday, fuelling steep declines in U.S. stocks and bonds and intensifying fears over the economic outlook. The Federal Reserve meets on Wednesday following data last week showing that U.S. consumer prices rose at their fastest pace since 1981. CME’s FedWatch tool, based on the prices of short-term credit futures, shows a 30% chance of a 75-basis-point rate hike at this month’s meeting, up from a 3.1% chance seen one week ago. A 7…

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