The Floor Could Still Fall Out of This Stock Market

For a while, the most likely outcome for stock markets in 2023 was a trading range. Now, much worse scenarios are on the table.

This past week, the Dow Jones Industrial Average gained 376 points, or 1.2%, the

S&P 500 index

finished up 1.4%, and the

Nasdaq Composite

rose 1.7%. All three fell about 1% after the Federal Reserve raised rates a quarter point on Wednesday.