After a brutal 12 months for Chinese equities, Wednesday’s session was looking like a tepid bounce off multi-year lows until the headlines started rolling from Beijing. Then greed quickly replaced the panicked selling of the past few days.
Covid. War. Inflation. Recession fears. The stock market can’t keep up
It’s been a year full of worries for investors, from geopolitical conflict to inflation to the pandemic, and it doesn’t look like the concerns will ease anytime soon.
A full recap of the Fed’s rate hike decision and Powell’s market-moving comments
Powell said that the Fed doesn’t see evidence of a wage-price spiral at the moment but there is a “misalignment” of supply and demand in the labor market.