2023-09-21 13:12:00
Published on September 21, 2023 at 3:12 p.m.
Jerome Powell suddenly plunged the markets into the fall. Investors were expecting a message of firmness from the chairman of the US Federal Reserve, despite the decision to pause rate increases. But they did not imagine that the central bank would show so much determination, announcing a probable turn of the screw this year and reducing the number of rate cuts envisaged for 2024.
The reactions were not long in coming. Wall Street closed lower on Wednesday evening. “Tech” stocks, sensitive to rate levels, pulled the indices down. The Nasdaq lost 1.53% and the S&P 500 0.94%. The European stock markets in turn faltered on Thursday. Around 1:30 p.m., the CAC 40 and the Euro Stoxx 50 lost around 1.5% and the Dax dropped 1.2%.
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