Australian shares are set to open down; S&P 500 and Nasdaq end lower, inflation, Fed weighing on investors; RBA December minutes ahead; follow for updates.
Australian shares are set to open down as Wall St suffered mixed fortunes with inflation and the Fed still weighing heavily on investors.On bitstamp.net, bitcoin was - 0.6% to $US16,602P 500 and the Nasdaq were red, while the Dow held onto a modest gain as investors favoured defensive stocks in the wake of last week’s flight to safety, which was driven by recession worries and the Federal Reserve’s hawkish rhetoric as it wages war against inflation.
“To take a step back, the overwhelming theme of 2022 has been all about inflation and the Fed’s policy response,” said Huw Roberts, head of analytics at Quant Insight in London. “We’ve seen a financial shock on par with 2008, but for different reasons.”
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