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Stocks Sink on Fears over Tech Rally, US Rates
Global stocks fell as doubts about a Federal Reserve rate cut next month and fears of a tech bubble increased, with a 52% chance of a rate cut now priced in, analysts said.
- On Friday, global stock markets sank as a Wall Street-led selloff and doubts about next month's Fed decision drove broad selling, with Tokyo and Hong Kong falling at least one percent.
- Federal Reserve Chair Jerome Powell and regional presidents signalled caution, reducing market expectations for a December cut as officials warned of limited easing room amid high inflation.
- All three main indexes on Wall Street finished lower, with the Nasdaq down more than two percent and other major indexes notably weaker.
- Traders de-risked ahead of next week's chip earnings, with Nvidia singled out as the key bottom-up focal point prompting caution.
- The dimmer outlook for rates intensified valuation worries in tech as oil rallied after the International Energy Agency flagged risks to Russian oil output last month.
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·Alexandria, United States
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European stock indexes fell today after cautious comments from Federal Reserve officials raised doubts that the U.S. central bank will cut interest rates in December.
·Belgrade, Serbia
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Coverage Details
Total News Sources83
Leaning Left9Leaning Right12Center15Last UpdatedBias Distribution42% Center
Bias Distribution
- 42% of the sources are Center
42% Center
L 25%
C 42%
R 33%
Factuality
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