Stocks dive, dollar rallies as dazed traders gird for inflation data

  • 📰 YahooNews
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 59%

United States News News

United States United States Latest News,United States United States Headlines

Asian stocks sank again while the dollar held gains against the yen and sterling as the volatility that has characterised markets for most of the year showed no sign of letting up.

Angst-ridden investors are struggling to find some solace as they navigate a range of crises that threaten the global economy, from soaring prices and bumper interest rate hikes to the Ukraine war and China's Covid-induced growth slowdown.

The latest blow came Tuesday when the Bank of England announced it would stop its emergency bond-buying efforts on Friday, ignoring calls to extend the programme to allow markets to stabilise. Sterling, which had recovered to as high as $1.15 last week, came back under pressure to drop back below $1.10 Tuesday where it remained the next day in Asian business.

Investors are now nervously looking ahead to Thursday's US inflation report, with observers warning that a strong reading could spark another rout. "There is so much tension that duration time will be short," said Yoshio Iguchi, of Traders Securities."The chicken race will continue with people wanting to test the upside but at the same time scared of being countered by intervention."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 380. in US

United States United States Latest News, United States United States Headlines

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

Asian Stock Market: Tumbles on sluggish market mood, DXY rebounds, oil defends $90.00Markets in the Asian domain are displaying a weak performance following the footprints of weaker S&P500 recorded in Friday. Also, the latter index fut
Source: FXStreetNews - 🏆 14. / 72 Read more »

Asian Stock Market: Nikkei plunges as yen turns volatile, DXY firms, oil below $90.00Markets in the Asian domain are displaying mixed performance as Nikkie225 has plunged while Chinese stocks are trading flat. Risk-perceived assets hav
Source: FXStreetNews - 🏆 14. / 72 Read more »

Asian Stock Market: Bears dominate at 2.5-year low amid sluggish yields, recession woesAsian Stock Market: Bears dominate at 2.5-year low amid sluggish yields, recession woes – by anilpanchal7 Asia Equities RiskAppetite CentralBanks Recession
Source: FXStreetNews - 🏆 14. / 72 Read more »