Dealers are dumping stocks this afternoon for fear that central banks will stick to their plans to keep hiking interest rates, even though economies are cooling.
The fall in US producer price index (PPI) triggered a fresh round of buying on Wall Street and the S&P 500 has set a new three month high.
The strong US jobs report renewed fears about further large interest rate hikes from the Federal Reserve, which is why equity markets are lower.
A mixture of worries about the health of the global economy and rising tensions between the US and China are weighing on stocks.
European stock markets closed largely flat amid low volatility. The major indices were in positive territory for much of the session but dipped just before the session ended.
Stock markets are pushing higher ahead of the Federal Reserve meeting, even though it is widely believed the bank will reveal a large interest rate hike.
Yesterday evening, the Federal Reserve released the minutes from last months meeting.
Stock markets in Europe racked up solid gains today as the bullish close in Asia helped the mood.
Stock markets have undergone a rebound today following the World Bank’s downgrade to global growth, the body now predicts the world economy will expand by 3.2% in 2022, while the previous forecast was 4.1%.
The back and forth between Russia and Ukraine is weighing on sentiment in the markets. Lingering tensions and concerns that Russia will maintain a heavy military presence on its border with Ukraine has prompted dealers to sell stocks.
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