World stocks were steady on the last trading day of the year as markets digested U.S. data and the dismantling of China’s zero-COVID policy, but the global index was heading for a 20-percent drop over a year marred by high inflation and war in Europe.
“The market has been trying to anticipate when the Fed is going to hike, how fast and how far.”
MSCI’s world equity index was heading for its largest annual drop since the global financial crisis of 2008, when it slid more than 40 percent. China’s health system has been under stress due to soaring cases since the country started dismantling its “zero-COVID” policy at the start of the month, with several countries imposing or considering imposing curbs on travelers from China.The dollar has gained more than 8 percent over the year, but it lost more than 7 percent this quarter on expectations the Fed may not raise rates as high as previously feared.
“Averting a downturn is a tall order,” said Vishnu Varathan, head of economics and strategy at Mizuho Bank, noting that the odds are stacked against economies emerging unscathed from global policy tightening.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DOH: Over P1.4B special risk allowance given to healthcare workers amid COVID-19 in 2022The Department of Health (DOH) on Thursday said more than P1.4 billion special risk allowance has been given to healthcare workers this year amid the COVID-19 pandemic.
Read more »
2022 set to be UK's hottest year on recordBritish experts on Wednesday said 2022 was set to be the United Kingdom&39;s warmest on record after a year of heatwaves and minimal rainfall.
Read more »
Sari-Sari stores dominate new business-name registrations in 2022 - BusinessWorld OnlineTHE DEPARTMENT of Trade and Industry (DTI) said Wednesday that it registered 827,491 new business names this year, accounting for 88.8% of new registrations. “The business activity of most of the BN (business name) registrations, based on the Philippine Standard Industrial Classification, is retail selling in sari-sari stores with 180,406 processed applications,” the DTI said […]
Read more »
Fair weather seen until end of 2022Fair weather will prevail in most parts of the country as the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) has not monitored any tropical...
Read more »