Australian shares are poised to open flat. US tech stocks retreated. Oil fell. $A lower. Bitcoin drops. Follow updates here.
The Federal Reserve will reverse course and cut interest rates sooner and more aggressively than money markets forecast this year as signs of a US economic recession emerge, according to HSBC Asset Management.
The Fed has been in a stand-off with markets, which are betting that policymakers will cut rates later this year despite chairman Jerome Powell’s insistence that they need to keep rising and stay elevated to calm ongoing price pressures.
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