Optimism Quickly Turns to Pessimism05/05/2022

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After the Fed meeting on Wednesday, stock markets rallied for their biggest one-day gain since 2020. The S&P 500 gained nearly 3%, but just a day later, investors reconsidered this optimism and markets lost more than 3% on Thursday with the S&P 500 losing more than 3.5%. Technology stocks were hit the hardest with the tech-heavy Nasdaq Composite falling nearly 5%, the biggest decline since June 2020.

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