新2备用网址（www.hg108.vip）:GLOBAL MARKETS-World stocks slump, greenback gains grow as rate hike bets keep investors cautious
The pan-European 600 index .STOXX lost 1.53% and MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.82%.On Wall Street, stock indexes tumbled on Thursday after weaker-than-expected earnings from big U.S. banks JPMorgan Chase & Co and Morgan Stanley underscored growing fears of a sharp economic downturn. The Dow Jones Industrial Average .DJI fell 0.46%, the S&P 500 .SPX lost 0.30% and the Nasdaq Composite .IXIC added 0.03%.新2备用网址（www.hg108.vip）是一个开放新2网址即时比分、新2网址代理最新登录线路、新2网址会员最新登录线路、新2网址代理APP下载、新2网址会员APP下载、新2网址线路APP下载、新2网址电脑版下载、新2网址手机版下载的新2新现金网平台。新2网址登录线路最新、新2皇冠网址更新最快,皇冠体育APP开放皇冠会员注册、皇冠代理开户等业务。
WASHINGTON: Global equity markets edged lower on Thursday and oil slipped while the safe-haven dollar rose after the latest red-hot U.S. inflation reading heightened investor fears about Federal Reserve interest rate hikes and a possible recession.
Wednesday's data showed U.S. consumer prices jumped 9.1% year-on-year in June, up from May's 8.6% rise.
The data was seen as firming the case for the Federal Reserve to raise rates aggressively. Policymakers might consider a 100 basis point increase at the July meeting, Atlanta Federal Reserve Bank President Raphael Bostic said.
The pan-European 600 index .STOXX lost 1.53% and MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.82%.
On Wall Street, stock indexes tumbled on Thursday after weaker-than-expected earnings from big U.S. banks JPMorgan Chase & Co and Morgan Stanley underscored growing fears of a sharp economic downturn.
The Dow Jones Industrial Average .DJI fell 0.46%, the S&P 500 .SPX lost 0.30% and the Nasdaq Composite .IXIC added 0.03%.,
Meanwhile, the dollar .DXY soared to a 20-year high, emerging as a preferred save haven amid growing economic risks of late, as gold slumped more than 2% to a near one-year low on Thursday. The dollar index =USD rose 0.351%, with the euro EUR= down 0.47% to $1.0013.
"The Fed probably needs to temper people’s expectations in terms of what they can do," said Eddie Cheng, head of international multi-asset investment at Allspring Global Investments.
"In the past hiking cycle, we have observed that inflation kept rising during the hiking cycle.... It takes time for the monetary policy to affect inflation."
Cheng said that riskier assets will be the "collateral damage" in the Fed's attempts to reign in inflation.
JPMorgan Chase, the United States' biggest bank, reported a fall in second-quarter profit. Chief Executive Jamie Dimon warned that geopolitical tension, high inflation, waning consumer confidence, the never-before-seen quantitative tightening and the war in Ukraine "are very likely to have negative consequences on the global economy sometime down the road."
"There was an irrational response to the JPMorgan and Morgan Stanley results," said Jay Hatfield, chief executive and portfolio manager at InfraCap in New York. "It wasn't a surprise that investment banking was weak.
"JPMorgan warned that there's uncertainty in the market, but if you're alive and breathing you know there’s uncertainty in the market."