Wall Street rebounds from worst weekly sell-off since 2020, ASX set to recover further

The Australian dollar was slightly higher at 69.7 US cents.

Bitcoin rebounded to $US20,840, though it has dropped about 70 per cent since its record high in November. Investors are trying to assess how far stocks can fall as they weigh risks to the economy with the US Federal Reserve taking aggressive measures to try to tamp down surging inflation.WatchThe S&P 500 earlier this month fell over 20 per cent from its January all-time high, confirming the common definition of a bear market."Do I think we have hit bottom? No, I think we are going to see more volatility," said Kristina Hooper, chief global market strategist at Invesco.

Oil and gas stocks were among the best performers, while megacap stocks Apple, Tesla, and Microsoft all rose sharply to boost the market.

There is no recession in next 15 mths Current rates are still near 0 Global investment had been subdued in covid 2022-21 Not many businesses had incurred high debt to be buried by back to normal 2019 rates

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