Washington, After hitting a three-decade high in the US, the world’s largest central bank is now pushing for a sharp rise in interest rates. Global markets, including the United States, are in a frenzy, with the US Fed raising interest rates by the biggest 0.6% since the 19th, fearing it will be forced to raise interest rates next month.
Last week saw a huge upheaval in stock markets around the world. The U.S. market saw its biggest weekly decline in two years, despite a modest gain on Friday. The decision by most major central banks, including the US Federal Reserve, to tighten monetary policy would be detrimental on the economic front. The move would slow down the economy and possibly lead to a recession.
On the other hand, rising interest rates, rising interest rates and rising costs are likely to reduce corporate earnings.
On Friday, the Dow Jones industrial average fell 2.3 points, or 0.18 percent, to close at 8.5.5. The S&P 500 rose 3.06 points, or 0.7 per cent, to close at 8.5.5. The Nasdaq Composite was up 17.8 points, or 1.7 per cent, at 10.5.5.
Looking at the ups and downs of the entire week, the Dow was down 4.5 per cent. This was the largest weekly decline since October 2020. The S&P 500 was down 2.6 percent and the Nasdaq was down 2.6 percent.
Wall Street’s three main indices fell for the third week in a row.
The benchmark S&P 500 index has seen the biggest weekly decline in percentage since March 2020. This was the largest decline during the previous Corona epidemic. The benchmark S&P index is down about 3% year-on-year. This confirms that the US market is in a recession. SS2KP