WNYT NewsChannel 13 on Nostr: Stock market today: Worries over rates and inflation send world shares lower ...
Stock market today: Worries over rates and inflation send world shares lower
==========
Shares retreated in Europe and Asia on Friday after unexpectedly strong reports on the U.S. economy raised the possibility of interest rates staying high. Germany’s DAX lost 0.6% to 18,638.00, while the CAC 40 in Paris gave up 0.4% to 8,071.23. Britain’s FTSE 100 shed 0.5% to 8,301.27. Japan’s Nikkei 225 index lost 1.2% to 38,646.11 after the government reported that core inflation excluding volatile food and energy prices was at 2.2% in April, lower than forecast. In Hong Kong, the Hang Seng fell 1.5% to 18,590.33, while the Shanghai Composite index dropped 0.9% to 3,088.87. South Korea’s Kospi declined 1.3% to 2,687.60, while in Australia, the S&P/ASX 200 shed 1.1% to 7,727.60. Taiwan’s Taiex slipped 0.2% after hitting a record high on Thursday. On Thursday, most U.S. stocks slumped when strong economic reports fueled concern that the Federal Reserve might keep interest rates high to ensure there is a lid on inflation. The S&P 500 fell 0.7% in its sharpest drop since April. The Dow Jones Industrial Average dropped 1.5% and the Nasdaq composite slipped 0.4%. One report suggested growth in U.S. business activity is running at its fastest rate in more than two years. S&P Global said its preliminary data showed growth improved for businesses not only in the services sector but also in manufacturing. A separate report showed the U.S. job market remains solid despite high interest rates. The Fed is trying to pull off the difficult feat of slowing the economy enough through high rates to get inflation back to 2% but not so much that it forces a painful recession. The sharpest single drop within the S&P 500 came from , which tumbled 7.8% after the Justice Department accused it and its Ticketmaster business of running an illegal monopoly over live events in the country.
https://wnyt.com/us-news/stock-market-today-worries-over-rates-and-inflation-send-world-shares-lower/
==========
Shares retreated in Europe and Asia on Friday after unexpectedly strong reports on the U.S. economy raised the possibility of interest rates staying high. Germany’s DAX lost 0.6% to 18,638.00, while the CAC 40 in Paris gave up 0.4% to 8,071.23. Britain’s FTSE 100 shed 0.5% to 8,301.27. Japan’s Nikkei 225 index lost 1.2% to 38,646.11 after the government reported that core inflation excluding volatile food and energy prices was at 2.2% in April, lower than forecast. In Hong Kong, the Hang Seng fell 1.5% to 18,590.33, while the Shanghai Composite index dropped 0.9% to 3,088.87. South Korea’s Kospi declined 1.3% to 2,687.60, while in Australia, the S&P/ASX 200 shed 1.1% to 7,727.60. Taiwan’s Taiex slipped 0.2% after hitting a record high on Thursday. On Thursday, most U.S. stocks slumped when strong economic reports fueled concern that the Federal Reserve might keep interest rates high to ensure there is a lid on inflation. The S&P 500 fell 0.7% in its sharpest drop since April. The Dow Jones Industrial Average dropped 1.5% and the Nasdaq composite slipped 0.4%. One report suggested growth in U.S. business activity is running at its fastest rate in more than two years. S&P Global said its preliminary data showed growth improved for businesses not only in the services sector but also in manufacturing. A separate report showed the U.S. job market remains solid despite high interest rates. The Fed is trying to pull off the difficult feat of slowing the economy enough through high rates to get inflation back to 2% but not so much that it forces a painful recession. The sharpest single drop within the S&P 500 came from , which tumbled 7.8% after the Justice Department accused it and its Ticketmaster business of running an illegal monopoly over live events in the country.
https://wnyt.com/us-news/stock-market-today-worries-over-rates-and-inflation-send-world-shares-lower/