Equity markets dropped sharply in the final days of November as investors digested worrisome language delivered by the Federal Reserve and fears about the new Omicron variant of Covid
FED Chairman Jerome Powell spooked markets after modifying his language to drop the word transitory from the description of inflation and signaling an increase in the pace of tapering and rate hikes
The inflation number from October came in at 6.2%, the highest since 1990, but failed to slow consumer spending which was up 1.3%.
The S&P 500 dropped by nearly 3% in the last three trading days of November, resulting in a negative result for the month, despite outperforming other equity markets globally
Bonds produced positive returns as investors soughtsafe haven asset late in the month
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