Investors had high hopes that central banks cutting borrowing costs would inject fresh energy into global equity markets. Instead, they got the opposite.
Markets around the world fell sharply overnight and this morning as traders began to worry that the Fed had left it too late to cut rates and prevent a major economic downturn. The jitters were triggered by weak manufacturing and job data from the US on Thursday indicating potential recessionary signals, with the sell-off further exacerbated by disappointing earnings from Big Tech giants Apple, Intel and Amazon. Friday Briefing: Even one of the Nasdaq's worst days is still not enough to put investors off US tech Although Fed chief Jay Powell communicated decent odds of a September...
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