Premarket: European stocks extend losses as slowdown warnings weigh

European stocks dipped on Friday and Europe’s benchmark German 10-year bond yield hit its highest since mid-June as investors braced for a U.S. rate hike while warnings from the World Bank and the International Monetary Fund fanned fears of a slowdown.

The downbeat tone continued during Asian trading, with data showing that China’s property sector had contracted further last month. Markets priced in a 75% chance of a 75-basis-point rate hike and a 25% chance of 100 bps when the Fed meets next Wednesday. “I expect stocks to head back down to below their March lows. If you are in an environment where you have central banks that aggressively raise rates, historically this has always led to bear markets.”The U.S. dollar index was up 0.3% at 110.13, still hovering near a 20-year high, and steady against the yen at 143.365.

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World shares fall, tracking Wall St dismay over price dataWorld markets slipped Wednesday after Wall Street fell the most since June 2020 as a report showed inflation has kept a surprisingly strong grip on the U.S. economy. After the amount of money they printed? You’d have to be a Buffoon to be surprised about inflation Profiteers are just hurting themselves, people will simply buy less stuff if they can't afford it. 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.
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