US stocks lose more ground ahead of expected Federal Reserve interest rate hike

Wall Street has seen more falls overnight and the benchmark index, the S&P500, has dropped further into a bear market as investors await a "supersized" interest rate hike from the US Federal Reserve.The S&P 500 index fell nearly 0.4 per cent, to 3,735, the Dow Jones index lost 0.5 per cent, to 30,365, and the Nasdaq Composite rose 0.2 per cent, to 10,828

New data shows that US inflation is running at a 40-year high, which prompted a big sell-off on Wall Street on Monday, US time, and in Friday's trade, after the latest consumer price figures were released. In Europe, the FTSE 100 fell 0.25 per cent, to 7,187, the DAX in Germany lost 0.9 per cent, to 13,304, while the CAC 40 in Paris dropped 0.8 per cent, to 5,950.after it tumbled nearly 4 per cent yesterday, losing almost $90 billion in one daySpace to play or pause, M to mute, left and right arrows to seek, up and down arrows for volume.Recession risks rise as central banks move slowly on interest rates, Marc Faber warns.

Hi . Philip Lowe has not ‘told ABC 7.30 that interest rates could rise to as high as 7 per cent’. He said inflation may reach 7% by year’s end. Please correct.

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Bonds signal looming US recession, derailing stocks and $ABonds and stocks dived, and the Australian dollar struggled after red-hot US inflation stoked worries of an even more aggressive Federal Reserve tightening.
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