ASX LIVE: Australian shares to plunge, Dow tumbles as soft landing hopes fade

ASX to drop amid a global share sell-off. Central bankers press fight v inflation with higher rates. $A slides. Tech stocks hit in New York.

Bridgewater Associates’ Greg Jensen said a successful China reopening after three years of sporadic pandemic lockdowns will pose a risk to economic growth in the US and Europe by increasing the inflation pressures that are driving central banks to raise interest rates.

“It’s been such a disinflationary force into a global inflation,” he said on Bloomberg TV. “China opening and the effect that’s going to have on commodity prices, in competing for raw materials in the world, while the US and Europe are entering recession, will probably make the central banking dilemma worse.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

FinancialReview /  🏆 2. in AU

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

New laws to target ASX clearing monopoly, Apple PayThe Albanese government will respond to demands from ASIC for power over the market operator and from the RBA governor to regulate the tech titan in payments.
Read more »

ASX LIVE: Australian shares to fall, US stocks drop on higher rate forecastsAustralian shares are set to open lower. US stocks swing wildly in frantic trading. Jerome Powell says Fed not close to ending its rate-rising cycle.
Read more »

ASX futures lower, Fed decision awaited, bitcoin tops $US18,000Australian shares are set for the moment to open lower. Fed statement expected at 6am AEDT. Dow paces gains in New York.
Read more »

ASX LIVE: Australian shares to rise; John McFarlane to retire as Westpac chairmanASX futures 0.3pc higher; Apollo climbs to 19pc of Challenger register; Woolies sells 5.5pc of Endeavour; Stockland 11.8¢ first-half distribution. Follow latest here.
Read more »

ASX LIVE: Australian shares to fall, US stocks drop on higher rate forecastsAustralian shares are set to open lower. US stocks swing wildly in frantic trading. Jerome Powell says Fed not close to ending its rate-rising cycle. Woolworths buys stake in Petspiration. AU labour force ahead. Follow for updates.
Read more »