Stock Market Update

[BRIEFING.COM] The market dropped to fresh session lows at the index level in recent trading.

Growth concerns remain a key driver of selling interest in the stock market. The Atlanta Fed raised its Q1 GDP forecast to -1.8% from -2.1% prior, which is still playing into worries about growth despite the slight improvement. 

Rate cut expectations remain steady ahead of the FOMC decision tomorrow. The market expects no change in the target range for the fed funds rate in March. The fed funds futures market is pricing in a 66.5% probability of at least 25 basis points in rate cuts by the June FOMC meeting.