GLOBAL MARKETS-World stocks slump, greenback gains grow as rate hike bets keep investors cautious
The pan-European 600 index .STOXX lost 1.53% and MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.82%.On Wall Street, stock indexes tumbled on Thursday after weaker-than-expected earnings from big U.S. banks JPMorgan Chase & Co and Morgan Stanley underscored growing fears of a sharp economic downturn. The Dow Jones Industrial Average .DJI fell 0.46%, the S&P 500 .SPX lost 0.30% and the Nasdaq Composite .IXIC added 0.03%.新2网址大全（www.hg108.vip）实时更新发布最新最快最有效的新2网址和新2最新网址,包括新2手机网址,新2备用网址,皇冠最新网址,新2足球网址,新2网址大全。
WASHINGTON: Global equity markets edged lower on Thursday and oil slipped while the safe-haven dollar rose after the latest red-hot U.S. inflation reading heightened investor fears about Federal Reserve interest rate hikes and a possible recession.
Wednesday's data showed U.S. consumer prices jumped 9.1% year-on-year in June, up from May's 8.6% rise.
The data was seen as firming the case for the Federal Reserve to raise rates aggressively. Policymakers might consider a 100 basis point increase at the July meeting, Atlanta Federal Reserve Bank President Raphael Bostic said.
The pan-European 600 index .STOXX lost 1.53% and MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.82%.
On Wall Street, stock indexes tumbled on Thursday after weaker-than-expected earnings from big U.S. banks JPMorgan Chase & Co and Morgan Stanley underscored growing fears of a sharp economic downturn.
The Dow Jones Industrial Average .DJI fell 0.46%, the S&P 500 .SPX lost 0.30% and the Nasdaq Composite .IXIC added 0.03%.,
Meanwhile, the dollar .DXY soared to a 20-year high, emerging as a preferred save haven amid growing economic risks of late, as gold slumped more than 2% to a near one-year low on Thursday. The dollar index =USD rose 0.351%, with the euro EUR= down 0.47% to $1.0013.
"The Fed probably needs to temper people’s expectations in terms of what they can do," said Eddie Cheng, head of international multi-asset investment at Allspring Global Investments.
"In the past hiking cycle, we have observed that inflation kept rising during the hiking cycle.... It takes time for the monetary policy to affect inflation."
Cheng said that riskier assets will be the "collateral damage" in the Fed's attempts to reign in inflation.
JPMorgan Chase, the United States' biggest bank, reported a fall in second-quarter profit. Chief Executive Jamie Dimon warned that geopolitical tension, high inflation, waning consumer confidence, the never-before-seen quantitative tightening and the war in Ukraine "are very likely to have negative consequences on the global economy sometime down the road."
"There was an irrational response to the JPMorgan and Morgan Stanley results," said Jay Hatfield, chief executive and portfolio manager at InfraCap in New York. "It wasn't a surprise that investment banking was weak.
"JPMorgan warned that there's uncertainty in the market, but if you're alive and breathing you know there’s uncertainty in the market."
While timing an entry or exit from the equity market is a key skill in investing, very few analysts are prepared to confidently call the upturn but most analysts believe that at current levels, many will not go wrong investing in value or growth stocks.这里好多爽文
In May, Affin Bank president and chief executive officer Datuk Wan Razly Abdullah Wan Ali was reported as saying the divestment of AHAM would result in a RM1.06bil gain and the proceeds have been earmarked for special dividends and to reinvest into its core banking business.看起来很好哦。
On Friday, the US market rallied in a relief rebound following earnings announcements by banks such as Wells Fargo and Citigroup. 满意，耐心看
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