The S&P 500 could retest its June low in the week ahead as equity markets endure a brutal bout of selling spurred by fears the Federal Reserve’s inflation fight may cause a recession.

A move by the U.S. central bank to lift interest rates by 75 basis points for the third straight time on Wednesday while signaling more sizable hikes were likely renewed worries among investors that a hard landing is imminent – particularly as monetary policymakers around the globe followed suit in recent days.

“The chances of a soft landing are likely to diminish," Fed Chair Jerome Powell said in a speech following the policy announcement. “No one knows whether this process will lead to a recession or, if so, how significant that recession would be.”

@Daily_Discussion