In today’s show we discuss the week on the market, starting in the US and ending in Australia. As I need to remind you, we here are not disconnected from the events on those other major markets. We are a cork on the ocean.
Wall Street stocks ended sharply lower on Friday (for the second straight session, as investors fretted about deepening tensions between Russia and Ukraine and the fallout from prospective higher rates. Just remember the FED has NOT lifted rates, nor started quantitative tightening .. yet.
Nine of the 11 major S&P 500 sector indexes declined, led by technology, down 3.0 per cent, and consumer discretionary, down 2.8 per cent. The energy sector index surged 2.8 per cent as oil prices hit seven-year highs.
With investors already fretting about inflation and rising interest rates, selling on Wall Street accelerated after Washington warned that Russia had massed enough troops near Ukraine to launch a major invasion, and that an attack could begin any day.
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