Jerome Powell, the bank’s chairman, stated that the bank must keep raising interest rates to prevent inflation from becoming a recurring feature of the US economy. His statements caused US stocks to crash, with markets falling 3% as a result. Inflation is at a four-decade high in the biggest economy on earth. Following stern remarks … Read more
Nikkei 225 index gained 1.84 percent, or 475.09 points, to close at 26,246.31. The Topix index gained 2.05 percent, 37.26 points. The yen’s fall to 135 against the dollar sparked rallies in major exporters like high-tech stocks. Tokyo stocks finished the day higher, rebounding dramatically after investors were encouraged in part by a spike in … Read more
NEW YORK – Major US stock indices fell on Friday to end a tumultuous week of trading on a downbeat note, as markets searched for optimism amid a slew of concerning news. Chief among traders’ concerns was the Omicron variant of Covid-19 and general fears of renewed business disruptions from the pandemic as cases surge in the … Read more
