EDITOR'S NOTE

Market turbulence is expected to continue in the week ahead, after the worst week for stocks since 2020.

The big event for markets is the Federal Reserve's meeting Tuesday and Wednesday. Economists expect the Fed will continue to sound hawkish and could signal its first interest rate hike will come in March.

Tech is particularly sensitive to rising rates, and the Nasdaq in the past week fell more than 7.5%. Dozens of companies report earnings in the coming week, including about half the Dow 30 stocks. Apple and Microsoft both report. Investors will be particularly focused on those big tech names, and members of FANG when they report the following week after Netflix disappointed.

The FANG favorite slumped more than 21% Friday after reporting weaker subscriber data. "It doesn’t matter if you beat or miss, but if you had negative comment around margins and costs, you’re going to pay a price,” said one strategist.

THE WEEK AHEAD

MICHAEL SANTOLI'S MARKET COLUMN

ACTIVIST SPOTLIGHT

YOUR WEEKEND BRIEFING