Markets swing after Wall St losses as traders weigh US rates outlook
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Asian markets were mixed on November 18, 2024, following a sell-off on Wall Street, where all three main indexes ended deep in the red, with the Nasdaq down over two percent. Investors are concerned about Federal Reserve interest rate cuts amid fears that Donald Trump could reignite inflation. Jerome Powell, the US central bank boss, warned that reductions in borrowing costs were not predetermined. Trump's recent victory has led to reduced expectations for rate cuts next year. Philipp E. Bärtschi, chief investment officer at Bank J. Safra Sarasin, expressed optimism about equities, suggesting that the election outcome has improved investors' appetite for risk. In early Asian trade, Hong Kong and Sydney saw gains of over one percent, while Tokyo, Taipei, and Jakarta experienced declines. The dollar maintained gains against major peers, and bitcoin traded above US$90,000, following a record high of US$93,462 last week.
#Markets #WallStreet #DonaldTrump #FederalReserve #InterestRates #Asia #Economy #Investors #Equities #Bitcoin
https://www.nst.com.my/business/economy/2024/11/1135975/markets-swing-after-wall-st-losses-traders-weigh-us-rates-outlook
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