AFP/Timothy A Clary
All three major US indexes ended the day in the red, with analysts noting a sense that the market is due for a pullback after an earlier run.There was mixed macroeconomic news this week, he said, but investors' focus remained on Federal Reserve chief Jerome Powell and the Bank of England, which further tightened monetary policy.
"Weakness in data and very hawkish central banks have revived investor concerns over a hard landing," he added, referring to the fear that economies could face a severe downturn due to rising borrowing costs.
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