P 500 dipped 20 per cent below its January 3 closing record. Treasuries and the dollar gained as havens caught bids.
Sentiment got a boost early Friday after Chinese lenders lowered the five-year loan prime rate by a record amount in an effort to boost mortgages and loans amid a property slump and COVID-19 lockdowns.Federal Reserve Bank of St. Louis President James Bullard said the central bank should front-load an aggressive series of interest-rate hikes to push rates to 3.5 per cent at year’s end, which if successful would push down inflation and could lead to policy easing in 2023 or 2024.
Shares of the electric carmaker skidded more than 10 per cent on Friday amid concerns that the alleged sexual misconduct and Musk’s political comments could threaten to damage Tesla’s brand and sales.reported on Thursday that Musk’s private company SpaceX paid $US250,000 in 2018 to settle a sexual harassment claim from an unnamed private jet flight attendant who accused Musk of exposing himself to her.
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