S&P 500 plummets to new low for the year while Dow Jones closes down 875 points, as US investors fret about possible recession
, which is scrambling to get inflation under control. Its main method is to raise interest rates in order to slow the economy, a blunt tool that risks a recession if used too aggressively.on Monday that the latest inflation news could lead the Fed to raise its short-term interest rate by three-quarters of a percentage point. That’s triple the usual amount and something the Fed hasn’t done since 1994.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
S&P 500 sinks into bear-market territory as recession fears pound US stocksBear market – a plummet of 20% or more – comes as investors fret about high inflation and possibility of further rate increases
Read more »
Designated Survivor star Kiefer Sutherland to front new campaign for Plus 500KIEFER Sutherland is to front a multi-million pound pound billboard and TV campaign for Plus500, as the City trading platform seeks to expand across Europe.
Read more »
Gun laws: Thousands take to the streets across the US demanding action on tightening controlsPresident Joe Biden said his message to the demonstrators was 'keep marching', adding that he was 'mildly optimistic' about legislative negotiations to address gun violence.
Read more »
Surging Wallaroos fall short of historic Test result against US in AucklandAustralia went close to a first win over the US in two decades as they use the Pacific Four to prepare for October’s World Cup
Read more »