A 1,300-point drop in Dow Jones Industrial Average. A selloff in bonds that sends Treasury yields higher. Signs of panic selling on Wall Street. And a dollar soaring to some of its highest levels in two decades. All in a single day.
The price action on 5 May offers "elements" of what may still be in store given the risk that US inflation keeps rising even after the Federal Reserve delivers interest rate hikes, said FHN Financial's Jim Vogel. And it's a chance that can't be ignored, he said.
