The moves come as investors lost faith in Fed Chairman Kevin Warsh’s commitment to curb inflation, leading yields to jump. While Warsh indicated he is committed to the inflation fight, he did say this week, “We’ve got no magic wand.” “As [yields] moves toward 5 percent, 5 percent is perhaps a level that will cause angst for sentiment and pressure valuations,” Terry Sandven, chief equity strategist at US Bancorp Asset Management, told CNBC. The strategist underscored that the market “is a roller coaster market filled with angst and opportunity.” $SPX
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