Global stocks slip amid worry about soaring inflation

Global stocks fell and bond yields rose on Wednesday, while the dollar strengthened, as investors fretted over soaring inflation and the effect on global growth from looming interest rate rises.

Soaring food and energy costs drove eurozone inflation to a record-high 8.1% in May, figures on Tuesday showed, stoking concern about rate rises not just in Europe but globally. “It’s just an incredibly uncertain environment at the moment,” said Mike Bell, a global market strategist at JPMorgan Asset Management. “In times like that, it makes sense just to moderate the size of one’s risk positions.”

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.4%, dragged down by Hong Kong’s Hang Seng index. The dollar index, which measures the currency against six major peers, including the yen, rose 0.2% to 102.05, extending a 0.4% rally from Tuesday.The US Federal Reserve on Wednesday begins shrinking asset holdings built up during the pandemic. Traders expect it will raise rates by 50bps at meetings this month and next and they are unsure and increasingly worried about after that.

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The Rand Report: Rand furthers recent gains on the back of global market forcesThe South African rand had a mixed week. It benefitted from positive outlook ratings by the S&P but the USD/ZAR pair lost 1.67% of its value. Sable_Intl
แหล่ง: TheSAnews - 🏆 25. / 59 อ่านเพิ่มเติม »

The Rand Report: Rand furthers recent gains on the back of global market forcesThe Rand Report: Rand furthers recent gains on the back of global market forces The South African rand had a mixed week. It benefitted from positive outlook ratings by the S&P but the USD/ZAR pair lost 1.67% of its value.
แหล่ง: TheSAnews - 🏆 25. / 59 อ่านเพิ่มเติม »