US stocks had their worst day since 2020 on Thursday, as investors consider the prospect of much less accomodative monetary policy
US stocks had their worst day since 2020 on Thursday, as investors consider the prospect of much less accommodative monetary policyThe JSE could be set for another tough day on Friday, with Asian markets down significantly after US stocks had their worst day since 2020.
The tech-heavy Nasdaq fared worst, falling almost 5%, while in morning trade on Friday the Hang Seng had fallen 3.87%, and the Shanghai Composite 2.32%.With no obvious news flow to explain the sharp reversal, it seems instead that the relief of Fed chair Jerome Powell indicating 75 basis points moves were likely a step too far and gave way to a renewed focus on high inflation and a challenging growth outlook, said National Australia Bank economist Taylor Nugent in a note.
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