◆The Dow fluctuated by 1500 points in one day… 2.8%↑
Last night, the New York Stock Exchange posted an all-time high of volatility. On the New York Stock Exchange (NYSE) on the 13th local time, the Dow Jones Industrial Average closed at 30,038.72, up 827.87 points (2.83%) from the previous day. The S&P 500 index rose 92.88 points, or 2.60%, to close at 3,669.91, and the tech-focused Nasdaq Index rose 232.05 points, or 2.23%, to close at 10,649.15, respectively. On the same day, the Dow plunged 550 points in the early part of the market on the announcement of a sharp rise in the consumer price index, but it surged by more than 950 points during the day as investors’ reaction to buying continued. The S&P 500 also went on a roller coaster ride with its biggest one-day volatility since March 2020.
IMF head: “Rising interest rates enough to reduce damage to growth”
International Monetary Fund (IMF) President Georgieva stressed the need to raise interest rates. “If we don’t tighten enough to catch inflation, we’ll have to keep rates higher and longer,” he said at the IMF and World Bank annual meeting press conference. said. Regarding the IMF’s downward revision of the global economic growth rate for next year, he said, “There is a 25% chance that next year’s economic growth will be only 2%, which is at a historically low level. It will feel like a recession.”
◆North Korea launches ballistic missile after threatening flight… resumption of taunt
North Korea carried out armed provocations, such as launching ballistic missiles into the East Sea right after making a threatening flight south of the tactical action line with about 10 military aircraft. From 10:30 pm on the 13th to 0:20 on the 14th, North Korea mobilized 10 military aircraft and approached 5km north of the no-fly zone established according to the 9/19 military agreement and then headed north. It was then observed that a short-range ballistic missile was launched into the East Sea at 1:47 a.m. and crashed after flying about 650 km. In this regard, the General Staff of the Korean People’s Army insisted that it was a military action in response to the South Korean artillery fire.
U.S. to continue monitoring North Korean missiles… Reconfirmation of extended deterrence policy
The U.S. Indo-Pacific Command, which oversees U.S. Forces Korea, has confirmed that North Korea is “aware of the missile launch” and that “the defense promise to South Korea is complete.” “We will continue to monitor North Korea’s ballistic missile launches that undermine security,” he said. On the same day, the U.S. State Department reaffirmed its policy to provide extended deterrence to South Korea using all U.S. defense capabilities, including nuclear weapons. The United States resumed the High-Level Extended Deterrence Strategy Council (EDSCG) last month to guarantee South Korea’s right to speak in relation to the operation of the nuclear umbrella.
Clear autumn weather… Beware of large day-to-day temperature changes
On Friday, the 14th, it is good to enjoy the full autumn weather with mostly clear skies across the country. The morning temperature in most of the country will stay around 12 degrees. The highest temperature during the day was predicted to be 20-24 degrees Celsius. There are many places where the daily temperature difference is more than 10 degrees, so it is necessary to be careful about what you wear. There will be places where there will be dense fog with a visibility of less than 200m from inland until morning, and fine dust will show ‘good’ to ‘normal’ levels in all areas. Fall weather is good for outdoor activities over the weekend, but it is expected that the cold air will flow in early next week and it will become sharply cold.
Oh Se-seong, reporter at Hankyung.com [email protected]