# Wall Street dives, dollar jumps as rate hikes take spotlight | Reuters

> US stocks fell more than 2% and the dollar hit a two-year high as investors priced in a series of interest rate hikes to fight inflation. Federal Reserve Chair Jerome Powell signaled a half-point rate increase was being prepared. Oil fell nearly 2% on the day.

- Date: 2022-04-22 · published 2022-04-22T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/7375-wall-street-dives-dollar-jumps-as-rate-hikes-take-spotlight-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Expectations of aggressive Fed tightening are lifting the dollar, which weighs on dollar-priced commodities and export demand. Lower crude prices also reduce biofuel-linked support for soy oil and corn.

## Read by commodity

- DXY: bullish ▲
- SBO: bearish ▼
- WTI: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DXY | 2022-04-28 | 5 | +2.5% | 4.3 | Risk-off equity selloff and Fed hike pricing on April 22 pushed the dollar higher, setting up the window's gains. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-06-23 | [Stocks fall, dollar up as investors weigh more rate hikes \| Reuters](https://feedsoft.ai/events/35674-stocks-fall-dollar-up-as-investors-weigh-more-rate-hikes-reuters.md) | +0.6% | -0.7% |
| DXY | 2022-01-27 | [Dollar jumps as markets brace for larger, faster rate hikes \| Reuters](https://feedsoft.ai/events/6268-dollar-jumps-as-markets-brace-for-larger-faster-rate-hikes-reuters.md) | +0.1% | +0.7% |
| DXY | 2021-06-16 | [Dollar jumps after Fed pulls interest rate hikes into 2023 \| Reuters](https://feedsoft.ai/events/5929-dollar-jumps-after-fed-pulls-interest-rate-hikes-into-2023-reuters.md) | +1.4% | +1.4% |
| DXY | 2022-08-02 | [Dollar jumps vs yen as Fed officials hint more rate hikes coming \| Reuters](https://feedsoft.ai/events/40270-dollar-jumps-vs-yen-as-fed-officials-hint-more-rate-hikes-coming-reuters.md) | +0.4% | +1.7% |
| DXY | 2026-06-17 | [Dollar jumps as Fed holds rates but projects one hike later this year \| Reuters](https://feedsoft.ai/events/11988-dollar-jumps-as-fed-holds-rates-but-projects-one-hike-later-this-year-reuters.md) | +1.8% | +0.9% |
| WTI | 2022-06-23 | [Oil prices slump as investors fear Fed rate hikes will hurt demand \| Reuters](https://feedsoft.ai/events/41110-oil-prices-slump-as-investors-fear-fed-rate-hikes-will-hurt-demand-reuters.md) | +4.5% | -8.0% |
| WTI | 2022-09-21 | [WTI Falls as USD Spikes to 20-Year High after Fed Rate Hike](https://feedsoft.ai/events/39497-wti-falls-as-usd-spikes-to-20-year-high-after-fed-rate-hike.md) | -6.9% | -1.7% |
| WTI | 2021-05-19 | [Oil prices dive $2 on fears of Asian pandemic, possible U.S. rate hikes \| Reuters](https://feedsoft.ai/events/47009-oil-prices-dive-2-on-fears-of-asian-pandemic-possible-u-s-rate-hikes-reuters.md) | +1.1% | +10.0% |

## Sources

- reuters.com: https://www.reuters.com/business/global-markets-wrapup-1-2022-04-22/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.