Local Kherson resident Klavdia, 82, stands near her house on December 29 which was destroyed by a Russian strike, as the attack on Ukraine continues, which also weighed on world markets. Picture: REUTERS/OLEKSANDR RATUSHNIAK/FILE PHOTO
The Federal Reserve and other central banks have been fighting inflation in the face of supply chain shortages and an energy crisis due to the Covid-19 pandemic and oil producer Russia's invasion of Ukraine. European stocks fell 0.5% and were on course for a 12% annual drop. Britain's FTSE 100, which houses several exporters, was down 0.2% but was bound for a rise of more than 1% in 2022.
China's blue-chip CSI 300 Index was up 0.4% on the day but down 22% on the year, while Hong Kong's Hang Seng index rose 0.2% on the day but fell 16% in 2022. Sterling was set for its worst performance against the dollar since 2016, when Britain voted to leave the European Union. It was last at $1.2063, down 0.09% on the day and around 11% on the year.
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