NEW YORK: World stocks fell for a second day in a row on Tuesday while government bond yields and the US dollar clung to multi-year highs, as surging inflation led investors to brace for what could be the largest US interest rate hike in 28 years this week.
The analysts said they expect the Fed to raise rates by another 75 basis points in July, and predict that higher rates will likely bring on a recession in mid-2023. MSCI's gauge of stocks around the world dropped 0.65 per cent to levels last seen in November 2020, while a pan-European equity index slumped 1.26 per cent to March 2020 lows.
Investors' repricing of higher rates has pummelled assets that benefited from rock-bottom interest rates, including stocks, crypto, junk-rated bonds and emerging markets. State Street's Graf did not see recession as inevitable, but said the probability has increased with"monetary tightening and the squeeze on real incomes from commodity prices".
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:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
World Bank approves US$474 million loan to South Africa for COVID-19 vaccinesThe World Bank has approved a loan of €454.4 million euros (US$474.4 million) to help South Africa fund COVID-19 vaccine purchases, the bank and South Africa\u0027s National Treasury said in a statement. South Africa has recorded the most coronavirus cases and deaths on the African continent, with more than\u0026n
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
New Zealand coach Hay lashes out at ref, VAR after World Cup exitDOHA : New Zealand coach Danny Hay criticised the officiating after his team’s World Cup playoff defeat on Tuesday, saying he was surprised FIFA appointed a referee from the United Arab Emirates to handle their intercontinental clash against Costa Rica in Doha.The central Americans won 1-0 to take the l
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Explainer: What led to the US stock market rout and how will it affect Asian markets?SINGAPORE — The S&P 500 confirmed on Monday (June 14) that it had entered bear market territory after the benchmark index fell for four days straight.
Source: TODAYonline - 🏆 1. / 99 Read more »
Singapore-made Employee of the month is a card game about surviving the corporate worldEmployee of the Month is a two to six player game that is all about surviving the corporate world., inspired by this Singaporean's working experiences.
Source: YahooSG - 🏆 3. / 71 Read more »
Missing Man Utd players have a 'lot to do' to make World Cup squad: SouthgateEngland manager Gareth Southgate said the Manchester United players who are currently out of the squad have a 'lot to do' to get back into the frame for the World Cup.While left back Luke Shaw is out injured, Marcus Rashford and Jadon Sancho have not been selected due to poor form, leaving Harry Maguire a
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Jurassic World Dominion ends box-office winning streak of Top Gun: MaverickLOS ANGELES (BLOOMBERG) - Jurassic World Dominion, the sixth film in the franchise about dinosaurs that escape from an amusement park, fought off weak reviews to lead the North American box office, snatching the crown from Top Gun: Maverick. The film from Universal Pictures...
Source: thenewpaper - 🏆 7. / 63 Read more »