Wall Street had another volatile week, with the S&P 500 posting losses for the sixth consecutive week. This is the longest stretch of negative weekly performance since 2008. Investors seem increasingly skeptical about the Fed's ability to achieve a "soft landing" for the economy. At its lowest point on Thursday, the S&P 500 was down nearly 18% from its December 2021 peak, just 2% above the threshold that typically defines a bear market. US stocks rebounded on Friday, helped by a rally in Tesla after Elon Musk tweeted that his deal to buy Twitter - financed in part by the sale of part of his stake in Tesla - was "pending". On Wednesday, US inflation data weighed on investor sentiment. Indeed, the increase in prices for a global basket of goods and services fell slightly from March's pace, but not as much as expected: inflation stood at +8.3% year-on-year against +8.1% expected by the consensus.
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