FedWatch Tool Suggests Rate Hike Looming Amid Market Uncertainty

Markets are reopening today amidst high levels of nervousness among traders on Wall Street and to a lesser extent in Chicago. The upcoming Federal Reserve Board's September meeting is just around the corner, with some analysts expressing concerns about raising interest rates at this time.

The CME FedWatch tool currently gives traders reason to be anxious. According to the tool, there is a 38% chance of no change in interest rates and a 62% probability of a quarter-point rate hike. Many experts believe that speculation surrounding these changes may already be priced into the market.