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Stocks and oil tumble as recession fears mount

Channel News Asia LogoChannel News Asia1w ago

Stocks and oil tumble as recession fears mount

Quick Summary

LONDON : World stock markets and oil prices hit the skids on Wednesday as the persistent palpitations about rising interest rates and recessions struck again, while the Japanese yen hit a fresh 24-year low against a seemingly unstoppable U.S.dollar.

In contrast, the Czech central bank was expected to hike its rates by an eyewatering 125 bps later with inflation there well into double figures.

Economists polled by Reuters expect the Fed will deliver a 75-basis-point interest rate hike next month, followed by a half-percentage-point rise in September, and won't scale back to quarter-percentage-point moves until November at the earliest.


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Article Details

Category: Economy

Topics: Cent Interest Prices Wednesday Japan Last Recession Market Rates Central Bank

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-22, 10:52:49

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Reading Time: 6 minutes read

Article Length: 960 words

Coverage Area: Singapore

Availability: Desktop Web, Mobile Web

News ID: 3298

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About Channel News Asia

Main Topics: Economy

Official Website: channelnewsasia.com

Update Frequency: 23 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 2h ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #27

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