World stocks headed for their worst week since markets’ pandemic meltdown in March 2020 as leading central banks doubled down on tighter policy in an effort to tame inflation, setting investors on edge about future economic growth. The biggest US rate rise since 1994, the first such Swiss move in 15 years, a fifth rise in British rates since December and a move by the European Central Bank to bolster the indebted south all took turns in roiling markets.
” Data from analysts at Bank of America showed more than 88% of the stock indexes it tracks are trading below their 50-day and 200-day moving average, leading markets “painfully oversold”. One way Bonds and currencies were jittery after a rollercoaster week. US labour and housing data came in soft on Thursday, on the heels of disappointing retail sales figures, with the worries knocking the dollar and helping Treasuries.
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Global stocks on track for worst week since March 2020Bank of Japan opts to pin 10-year yields near zero, in contrast to rest of the world
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