World stocks headed for their worst week since markets’ pandemic meltdown in March 2020, as interest rate hikes in the United States and Britain and a surprise one in Switzerland set investors on edge about future economic growth.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell to a five-week low, dragged by selling in Australia where the ASX 200 dropped 1.8 per cent. Japan’s Nikkei fell 1.7 per cent and headed for a weekly drop of almost 7 per cent. World stocks are down 5.7 per cent for the week so far, on course for the steepest weekly percentage drop in more than two years.
The greenback was firm on Friday and apart from surging on the yen, it lifted about 0.3 per cent to $1.0518 on the euro and rose about 0.5 per cent to $0.7012 per Aussie. “If a central bank does not move aggressively, yields and risk price in more in the way of rate hikes down the road,” said NatWest Markets’ strategist John Briggs.
IrishTimes Where is door do I hold cash but how does that help the banks just give it out with my risk and collapse oh dear... come hold you nerve ignore the heading to doors with big bag fulls they don't know the long haul... lol