The ASX is set to drop as Wall Street sold off again and the S&P 500 looked set for its worst start to the year in more than half a century, with declines of over 19 per cent so far.
P 500 looked set for its worst start to the year in more than half a century, with declines of over 19% so far.P 500 -1.8% Nasdaq -2.7%US central bankers will discuss whether to raise rates by 50 basis points or 75 basis points when they meet next month, with the decision being determined by economic data, Federal Reserve Bank of New York President John Williams said Tuesday.
“We were wrong on one thing, and that was inflation being as sustained as it has been,” Wood told CNBC. “Supply chain -- I can’t believe it’s taken more than two years, and Russia’s invasion of Ukraine, of course we couldn’t have seen that. So inflation has been a bigger problem. But I think that it has set us up for deflation.”On bitstamp.net, Bitcoin was down 2.2 per cent to $US20,337.56 at 4.58 am AEST.
US profit margin estimates are too optimistic, putting stocks at risk of more declines when Wall Street analysts downgrade their expectations, according to Goldman Sachs strategists. Walgreens Boots Alliance abandoned the sale of its Boots chemists chain that was expected to bring more than $US6 billion after failing to secure the desired valuation for the U.K. business amid a turbulent credit marketOil rose for a third day as global output threats compound already red-hot markets for physical supplies and China cut its quarantine time for new arrivals.
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