Asian stock markets sank Monday after Wall Street ended with a loss for the week amid anxiety about Federal Reserve plans for more interest rate hikes to...
BEIJING — Asian stock markets sank Monday after Wall Street ended with a loss for the week amid anxiety about Federal Reserve plans for more interest rate hikes to cool inflation.
The... BEIJING — Asian stock markets sank Monday after Wall Street ended with a loss for the week amid anxiety about Federal Reserve plans for more interest rate hikes to cool inflation. All the major U.S. stock indexes ended with a weekly loss after a Fed official, James Bullard, rattled investors by suggesting the U.S. central bank’s base lending rate might have to be raised to as much as almost double its already elevated level.On Friday, Wall Street’s benchmark S&P 500 index SPX rose 0.5% to 3,965.34. The Dow Jones Industrial Average DJIA added 0.6% to 33,745.69. The Nasdaq composite COMP lost less than 0.1% to 11,146.06.
Investors worry repeated rate hikes by the Fed and central banks in Asia and Europe this year to cool surging inflation might tip the global economy into recession.
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