The realisation that US interest rates will be "higher for longer", as the US Fed has signalled, is hitting shares globally and the pound here. Last night's turmoil in Washington when House of Representatives Speaker Kevin McCarthy was ousted for the first time in US political history added to the febrile mood.
The comparative strength of the American economy is making investors nervous at looking elsewhere. Overnight Hong Kong shares fell again, while fresh US figures showed the jobs market is stronger than expected.
This story is from the October 04, 2023 edition of Evening Standard.
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This story is from the October 04, 2023 edition of Evening Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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