Global Stocks Slide Amid Political and Economic Uncertainty
Global stock markets slipped from recent highs as investors reacted to political and economic developments. Concerns included a potential ousting of Fed policymaker Lisa Cook, political strife in France, and fluctuating bond yields. Key data such as the U.S. PCE price index is awaited, influencing future rate cuts.
Global stock markets retreated from their recent highs, driven by developments in political and economic spheres that have stirred investor concerns. Traders are bracing for U.S. inflation data, which will inform the Federal Reserve's decisions on interest rates, decisions that are increasingly becoming politicized.
Several factors are generating jitters. Among them are U.S. President Donald Trump's attempts to fire Federal Reserve policymaker Lisa Cook and renewed political unrest in France, all of which have weighed on European stocks and currencies. The STOXX 600 and euro saw losses as France's confidence vote looms.
This week saw European bond yields and Asian markets fluctuate, with notable moves in Chinese stocks and financials. Meanwhile, attention turns to the U.S. PCE price index release on Friday, anticipated to impact investor expectations of forthcoming interest rate cuts.
(With inputs from agencies.)
Google News