Pedestrians are reflected in a window of the Nasdaq MarketSite in New York, US, June 15 2022. Picture: MICHAEL NAGLE/BLOOMBERG
But rate hikes on Thursday from the central banks of Switzerland and Britain reignited fears that attempts by central banks to curb inflation could lead to sharply slower growth worldwide or a recession. According to preliminary data, the S&P 500 lost 121.87 points, or 3.22%, to end at 3,668.12 points, while the Nasdaq Composite lost 448.28 points, or 4.04%, to 10,650.88. The Dow Jones industrial average fell 727.65 points, or 2.37%, to 29,940.88.
Rate cuts? 🤷♂️
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Business Maverick: Asia’s energy crunch turns from bad to worse on US export fireA new timeline presented on Tuesday to restart a key US liquefied natural gas export plant was much longer than traders had anticipated, while lower deliveries from Indonesia to Russia tightened global supply. Asian LNG futures for winter delivery surged to the highest level in over two months.
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