US stocks sell-off as Fed dread deepens

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All three major US benchmarks were lower in late morning trade on renewed, volatile selling. US bonds were steady. Gold, oil, iron ore and bitcoin were higher.

Warren Buffett’s Berkshire Hathaway plans this year to let shareholders attend the company’s annual meeting for the first time in three years, amid signs the Omicron wave may have peaked in the United States.

Verizon Communications said it added more-than-expected wireless subscribers that pay a monthly bill in the fourth quarter and expects a strong year ahead helped by increased adoption of 5G services.US consumer confidence “moderated” in January though remained steady. The Conference Board Consumer Confidence Index declined to 113.8 from 115.2 in December.

“In combination with lower investment in real estate, this means that the growth forecast for 2022 is revised down relative to October by 0.8 percentage point, at 4.8 per cent, with negative implications for trading partners’ prospects.”

 

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