Stocks set for another painful week as cryptocurrencies collapse

Stocks could be set for another painful week on fears that central banks may engineer a recession in their fight against inflation, while the spectacular collapse of cryptocurrencies is poised to add to the global market rout in equities.crashed as much as 15 per cent over the weekend,

“Cryptocurrencies surged with semi-religious fervour around the marvels of blockchain, decentralised finance, freedom from government, promises that it’s an inflation hedge, only to become a bandwagon fuelled by speculative extrapolation on the back of easy money and low interest rates,” said Shane Oliver, AMP Capital chief economist.

while the central bank of Switzerland shocked markets with its first tightening in 15 years. The Bank of England raised its cash rate for the fifth time since December.The bond market is pricing in a contraction in the US economy. An inversion of the yield curve, where borrowing costs over two years are unusually higher than that over 10 years, has foreshadowed seven of the past eight US recessions, with no false signals, according to BCA Research.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Stocks set for another painful week as cryptocurrencies collapseStocks could be set for another painful week following the spectacular collapse of cryptocurrencies which are increasingly part of traditional asset portfolios. decreasingly, in fact Typical, keep talking the market down
Source: FinancialReview - 🏆 2. / 90 Read more »

Stocks set for another painful week as cryptocurrencies collapseStocks could be set for another painful week following the spectacular collapse of cryptocurrencies which are increasingly part of traditional asset portfolios. decreasingly, in fact Typical, keep talking the market down
Source: FinancialReview - 🏆 2. / 90 Read more »