Stocks in the US have fallen for a fourth consecutive day as traders continue to assess The Fed’s plan following the central bank’s comments vowing to keep raising rates until they’re confident inflation is coming down meaningfully. The Dow Jones closed down 163 points (-0.49%). At best it was up 118, and at worst it was down 338. The S&P 500 fell 0.9%, and the NASDAQ was down -0.76%. In Europe, Stoxx 50 +0.2% FTSE +0.4% DAX +0.4% CAC +0.3%. SPI Futures are down 27 points (-0.38%).

Markets are still wary following the Fed’s comments last week, and other central banks maintaining a hawkish tone. Adding to this, former New York Fed President William Dudley said optimistic markets could only make the central bank tighten further. While the US home builder sentiment for December fell to levels not seen in the last 10 years, besides during the pandemic. With high mortgage rates and construction costs factoring into the reading. US bond yields were up overnight, with the 10-year yield up 11bps and the 2-year yield up 8.6bps. The USD was relatively unchanged for the session, up only 0.02%, while the AUD is slowly recovering, up 0.15% to 66.96c.

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• Bankman-Fried to agree to U.S. extradition in about-face after Bahamas hearing.
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