The Dow Jones Industrial Average plunged over 400 points today, slipping into correction territory due to concerns over wartime supplies, with Brent crude oil prices at around $111 per barrel. The S&P 500 is on track for its fifth consecutive weekly decline, marking its longest losing streak since 2022. Interestingly, in the rates market, futures traders raised the likelihood of a Fed rate hike by year-end to 52% on the CME FedWatch tool - the first time it has surpassed the 50% mark. Just a month ago, these odds stood at zero. Additionally, Microsoft stock is exhibiting weakness, causing a decline in MSFT shares. Prediction markets indicate growing confidence in a Fed rate hike, with Polymarket showing a 25% chance with $642,900 in volume, up from 8% at the beginning of March. Conversely, Kalshi suggests a 27% probability, still lower than the 52% implied by CME futures. For more details, refer to the full story on Benzinga.com.