European benchmarks were marginally lower while Asia saw bigger losses. U.S. futures edged higher, with the contracts for the Dow industrials and the S&P 500 up 0.3%. European futures were lower.
Germany's DAX lost 0.2% to 13,165.86 and the CAC 40 in Paris gave up 0.3% to 6,2275. Britain's FTSE 10 shed 0.7% to 7,334.75. The futures for the Dow industrials and S&P 500 both were down about 0.3%. The U.S. is meanwhile reportedly considering new sanctions against Beijing aimed at deterring aggression against Taiwan, a self-governed island democracy that China claims as its own territory.
On Tuesday, the Dow lost more than 1,250 points and the S&P 500 sank 4.3% after Tuesday's hotter-than-expected report on inflation. The Nasdaq composite closed 5.2% lower.The yield on the two-year Treasury, which tends to track expectations for Fed actions, soared to 3.74% from 3.57% late Monday. The 10-year yield, which helps dictate where mortgages and rates for other loans are heading, rose to 3.42% from 3.36%.
Higher rates hurt the economy by making it more expensive to buy a house, a car or anything else usually purchased on credit. Mortgage rates have already hit their highest level since 2008, creating pain for the housing industry. The hope is that the Fed can pull off the tightrope walk of slowing the economy enough to snuff out high inflation, but not so much that it creates a painful recession.
This is being done on purpose to tank the economy just as the food shortages to change our way of living and transform to a new digital slavery
Summed up in one photograph
He will make you kneel ( again ) but for other reasons
This is that correction that comes with the malinvestments as a result of gov't intrusion in the market both by their 'investments' and by their money printing.
Profiteers are just hurting themselves, people will simply buy less stuff if they can't afford it.
After the amount of money they printed? You’d have to be a Buffoon to be surprised about inflation
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