Stocks Slide as Investors See Rates Rising After Strong Jobs Data
Macro
The S&P 500 experienced its largest single-day drop of the year, falling over 2.6% on Friday and breaking a nine-week streak of gains. This market reaction was driven by investor concerns that robust jobs data will compel the Federal Reserve to continue raising interest rates.
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↓ SHORT-3% target+1% stop1-2 weeks
Short SPX via SPY on the hawkish Fed pivot, targeting a retest of the 200-day moving average.