Wall Street Selloff Goes Global Amid US Rate Angst: Markets Wrap
Written by Black Hot Fire Network on April 16, 2024
(Bloomberg) -- A selloff on Wall Street went global as investors grappled with the threat of higher-for-longer interest rates, China’s sluggish economy and an Israeli counter-strike.
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The Stoxx Europe 600 Index sank 1.3%, echoing moves in Asian and US equities. After a historic advance at the start of year, investors have been warning that markets are overdue for a pullback. And with earnings season underway, there’s growing concern that the mega-cap leaders will struggle to justify their steep valuations.
US equity futures ticked . . .
