Stocks hit as recession fears overshadow China reopening hope

HONG KONG: Most stocks suffered more selling on Wednesday while oil held losses on growing fears Federal Reserve monetary tightening will tip the US economy into recession.

The comments added to the downbeat mood that has coursed through trading floors at the start of the week, after forecast-beating reports on jobs and the giant US services sector fanned worries the Fed will have to push interest rates higher than hoped. He added that the latest readings suggest rates will go above five per cent before the Fed stops hiking, while several observers have suggested they will not be reduced until 2024.

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks rise as China eases more COVID-19 measuresHONG KONG: Most stocks rose on Monday (Dec 5) as traders welcomed more easing of strict COVID-19 containment measures in China that have hammered the world's number-two economy. The moves helped offset
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Stocks rally sputters as growth fears resurfaceSINGAPORE : Asia's stockmarkets wobbled lower on Wednesday as reality bit on hopes for a soft economic landing in the United States, and investors curbed their enthusiasm about China's reopening.The S&P 500 had dropped for a fourth straight session overnight and the brakes have come on a rally that has la
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »