The S&P 500 is down 9 points to 1991 and is now slightly lower on the week.
Here’s why:
- The market is pricing in a fresh round of Russian sanctions after the escalation of the conflict in Eastern Ukraine
- The GDP report also showed higher inflation and better growth, something that could prompt the Fed to hike rates sooner
- Some month-end profit taking is underway with the S&P 500 up 3.1% mtd