Stocks may be at risk as the Fed’s rate hikes and bond disposals squeeze valuations, hedge-fund billionaire David Tepper says

David Tepper expects stock valuations to fall due to interest rates and quantitative tightening. The Appaloosa boss says that financial conditions have worsened so valuations must drop too. Investors should expect stocks to command lower valuations than in past years, as financial conditions are a lot tighter today, David Tepper says. “It’s not that complicated…

Pending home sales plunged in August as 2-decade high mortgage rates continue to squeeze both buyers and sellers

Pending home sales slipped 7.1% in August in another sign of the housing market’s slump. Multi-decades high mortgage rates are keeping homebuyers out of the market. Pending home sales slipped 7.1% in August compared to July, according to the National Association of Realtors. The decline comes as mortgage rates push well above 7% this quarter,…