The brutal sell-off in US stocks last night ensured European markets got off to a very tough start this morning.
Markets have fallen back into their old habits as an increase in yields has sparked a sell-off in stocks. Equity markets experienced low volatility at the start of the week and that was because US bond yields cooled, but today the 10-year yield traded above 3%, which speed up the decline in equities.
Equity markets are enjoying a rally as a bullish mood is dominate on both sides of the Atlantic.
The latest data from China highlights the impact of the lockdown in Shanghai – the country’s largest city.
Volatility is relatively low today as we near the close of trading. Equity markets are showing strong gains as bargain hunters have snapped up stocks.
European stock markets are deep in the red as the brutal sell-off seen on Wall Street last night has set the tone for today.
The Bank of England amplified recession fears by forecasting the British economy will contract by 0.25% next year, while at the same time, hiking interest rates by 0.25% to 1% - the highest level since 2009.
Volatility is low across the board as traders await the Federal Reserve meeting. Broadly speaking, economists are expecting interest rates to be hiked by 0.5%.
Equity markets are mixed following yesterday’s volatile session, which saw a flash crash in European markets, and US equities underwent a bullish turnaround.
Stock markets in Europe are pushing higher even though tensions around Russia have ticked up. President Putin has threatened to hit back at countries that are assisting Ukraine. Gas supplies into the EU are being monitored as there are some worries the energy market could become weaponised.
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