HE DOW JONES fell for 10 consecutive sessions till last Wednesday—this was the first time this has happened since 1974 (when it fell 11 sessions in a row). It bounced back on Thursday and Friday, and, to be sure, the total decline thus far has been modest (just under 5%), but the clouds on the horizon are ominous.
The decline began on December 5, after it had hit an all-time high super-enthusiastic about Donald Trump's victory. However, as it started to become clear that most of his economically imbecilic policies would actually be implemented, the market has become increasingly worried about the likely impact on inflation and then some.
The last sharp leg down (last Wednesday) came when the Fed, at its last meeting of 2024, did cut rates as expected, but shocked everyone with a sea change in its inflation and interest rate forecasts for 2025 and beyond. It is now projecting only two rate cuts in 2025, rather than the four that had been on their own cards just a few months ago (in September). Fed Chair Jerome Powell said, "For additional cuts, we're going to be looking for further progress on inflation."
Esta historia es de la edición December 25, 2024 de Financial Express Chandigarh.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 25, 2024 de Financial Express Chandigarh.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Quick, quicker, quickest...
DELIVERIES AT ONE'S DOORSTEP AT LIGHTNING SPEED IS ALL-PERVASIVE
At the G, India up against Head-strong Australia
● In-form batter declared fit for Boxing Day Test
Noted Malayalam writer Vasudevan Nair dies
NOTED WRITER AND Jnanpith award winner M T Vasudevan Nair, who had been undergoing treatment at a private hospital in Kozhikode (Kerala) following heart failure, has passed away, hospital sources said on Wednesday.
Despite rising volume, muted crude prices help lower oil import bill
The softening in global crude oil prices over recent months has resulted in India's oil import bill contracting on a year-on-year basis in September, October, and November, despite import volumes rising in each of these months, latest petroleum ministry data shows.
Prosperity through cooperation
IN JUNE, THE United National General Assembly (UNGA) adopted a resolution proclaiming 2025 as the International Year of Cooperatives with 'Cooperatives Build a Better World' as the theme.
Office Leasing in Top Six Cities Hits Record: Report
WITH RISING DEMAND of premium workspaces, real estate consultant Anarock has said that realty firms are currently developing around 250 lakh square feet of office space across major cities for catering to the requirements of domestic and foreign companies.
The Angry Young Man
₹ impact on auto sector
Investors Get Good Exits in IPO Frenzy
IN FACT,
Russia Launches 'Inhuman' Christmas Day Attacks
RUSSIA ATTACKED UKRAINE'S energy system and some cities with cruise and ballistic missiles plus drones on Wednesday in an \"inhuman\" Christmas Day assault, Ukraine's President Volodymyr Zelenskiy said.
Honda-Nissan deal may hold key to fight against BYD
HONDA MOTOR ABSORBING Nissan Motor could give the two struggling Japanese brands the scale they need to take on China's BYD, sales figures released on Wednesday show.
