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."
This story is from the December 25, 2024 edition of Financial Express Lucknow.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 25, 2024 edition of Financial Express Lucknow.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
DDF strengthens its Senior Management Team
DF has further strengthened its senior management team with the appointment of eight senior executives across major departments in recent months.
Demerit act by Kohli on Konstas' striking debut
● Indian fined 20% fee for shoulder barge with teenager
Long years of inward-looking policies by govts to blame
Long years of inward-looking policies by govts to blame
China Clears World's Largest Dam in Tibet Near India Border
INFRA PUSH
A weak rupee may jack up import bills
\"THE COST OF imports of oil & gas will increase with a weakening rupee. However, with the decline in oil prices to $70-75 per barrel now, the impact of weakening rupee would be offset,\" said Girishkumar Kadam, senior vice-president & group head - corporate ratings, at Icra.
Dhindsa: Talk less, deliver more
IT IS SUCH attention to detail that's helping Blinkit leave the competition behind by a mile.
Skilled jobs can power urban development
Panellists discussed how cities can boost employability and create enablers for migrant workers to remain invested at the Lucknow edition of IE Thinc: CITIES series, presented by The Indian Express with Omidyar Network India. The session was moderated by Udit Misra, Associate Editor
In a first, EatSure launches multi-restaurant ordering
EATSURE, THE D2C platform of online restaurant company Rebel Foods, on Thursday announced the launch of a new feature allowing users to order from multiple restaurants in one order.
World Looks at India for Youth Power: PM on Veer Bal Diwas
HIGHLIGHTING HOW YOUTH energy has played a significant role in the country's progress, Prime Minister Narendra Modi said on Thursday that the world looks at India with hope and expectation because of its youth power, which is driving new revolutions.
Former PM Manmohan Singh passes away
The correct lead is missing from the extraction.
