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Stocks Plagued by Inflation and Interest Rate Fears
While it wasn’t a wholesale rout, some widely-followed large-cap stock indexes suffered their biggest weekly drops since February. Small- and mid-cap stocks fared somewhat better and foreign stocks somewhat worse.
It was business as usual in the nation’s capital last week which also didn’t help the investment markets. While the threat of an immediate partial government shutdown was averted, the outlook for a bipartisan trillion dollar infrastructure agreement was uncertain. Most of last week’s economic data was encouraging, but inflation and interest rate concerns were front and center on investors’ minds.