Asian share markets slipped on Monday as investors braced for a Federal Reserve meeting at which it is expected to confirm it will soon start draining the massive lake of liquidity that has supercharged growth stocks in recent years.
However , Wall Street futures bounced after last week's drubbing, with the S&P 500 futures up 0.7% and Nasdaq futures 0.8%.
"With inflation eye-wateringly high, the Fed is on course to steadily remove the ultra-accommodative monetary policy that has been a key prop to stock prices for over a decade now," said Oliver Allen, a market economist at Capital Economics. The rout was exacerbated by a slide in Netflix , which tumbled almost 22%, shedding $44 billion in market value.
However, Allen noted that even with the recent drop the S&P 500 was still 40% above where it ended 2019, and the Nasdaq 60%.
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