MID-DAY: Wall Street feels market volatility over inflation talks by US Reserve; Gold slides toward 2018 low
Traders are expecting more market volatility this afternoon as the US Federal Reserve Chair gives more details on policymaker plans to combat inflation. The Dow opened high then dropped and is back up again 115 points to 25,144. Analysts are torn on whether the reserve will add another interest rate hike to the three planned for this year.
Gold has largely been unaffected by other market trends this year, but experts say it may be feeling the effects of the inflation fears as it has steadily been dropping coming close to its lowest point in 2018. It’s down to 1,309.
The price of crude is also feeling the market volatility as it edges lower to 60.70.
On Bay Street the TSX is down to 15,420.
The Loonie is struggling at 77.90 cents US.