Dow Dives Into Correction As Chance Of Rate Hike Spikes: What Do Prediction Markets Think?

The Dow Jones Industrial Average fell more than 400 points today, dropping into correction territory as wartime supply fears kept Brent crude hovering near $111 a barrel and the S&P 500 headed for its fifth straight weekly decline, its longest losing streak since 2022. But the bigger story is in the rates market, where futures traders on Friday pushed the probability of a Fed rate hike by year-end to 52% on the CME …