Why Shares in ArcelorMittal Slumped Today
Shares in integrated steel and mining company ArcelorMittal (NYSE: MT) were down nearly 8% this afternoon. There's a sense that the Federal Reserve's recent rate hike will lead to more rate hikes, and the bond markets have been busy pricing in higher interest rates. All of this speaks to slowing economic growth in the future as higher interest rates make investment more expensive.