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A new Fed tightening cycle may have just begun. If that’s the case, buckle up

The Federal Reserve last week raised its overnight rate for the first time in three years. That could mean bad news for stocks near term. Bespoke Investment Group crunched the numbers and found that, since 1994, the S & P 500 has fallen 3.2% on a median basis in the month after the Fed kicks off a tightening cycle.

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