A person holding an umbrella in the rain walks in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Monday, June 12, 2023, in Tokyo. Shares were mixed in Asia on Monday after the S&P 500 logged its fourth winning week in a row, while investors await another decision by the Federal Reserve on interest rates.
The Shanghai Composite index slipped 0.1% to 3,228.72. Shares rose in Taiwan and India but fell in Bangkok. Australian markets were closed for a holiday. reflects growing hopes the economy might avoid a severe recession despite the sharp rise in interest rates as the Fed strived to bring inflation under control.
Also Friday, Adobe rose another 3.4% to add to its 5% leap from the day before following its announcement of a new artificial-intelligence offering for businesses. It joined a frenzy around AI that has sent a select group of stocks soaring, such as a 165% surge for chipmaker Nvidia so far this year.
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Stock Market Crash: 15-20% Drop Likely With Recession, warns Economist'This is typical late cycle behavior': New York Life Investments warns a recession is still barreling toward the US economy despite strong jobs data — threatening to sink stocks by 15-20%
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