Friday’s rebound, however, came on the back of strong consumer sentiment data, retail sales numbers, and the Fed’s assurance that it is considering only a 75 basis point hike this month. The markets fell throughout the week in the apprehension of a 100-basis-point hike in interest rates in the next Fed meeting, which can push the economy into a recession. The multi-decade high inflation and disappointing earnings reports from major banks make the market’s prospects look bleak.