The world’s most important stock markets were in the red following monetary policy decisions by major central banks. Despite the fact that the interest rate hike was as expected. Investors are worried about a recession.
Central banks raised interest rates by half a percent
The Federal Reserve, the European Central Bank and the Bank of England all raised their key interest rates by half a percentage point in the week just ended. Although it was no surprise, the stock markets reacted with a decline. Markets were bleeding in Europe, the United States and Asia.
The biggest drop in Milan
The biggest fall on European markets was recorded on the Milan stock exchange. The local MIB index wrote off nearly 3.5 percent. The DAX index of the Frankfurt Stock Exchange and the CAC 40 in Paris also lost over three percent.
Similarly large losses occurred in Wall Street trading. The main index of the New York Stock Exchange, the S&P 500, has written off almost 2.5 percent, while the Dow Jones Industrial Average has written off 2.25 percent. However, the Nasdaq technology index fell the most, down 3.23 percent. A slight weakening also came in Shanghai, with Tokyo’s Nikkei down nearly two percent. In contrast, Hong Kong’s Hang Seng firmed 0.6 percent.
