Market Analytics and Considerations
Key Notes
- Eurostoxx dropped by 0.4%.
- Europe DAX -0.3%
- CAC 40 -0.3% France
- FTSE UK down 0.5%
- Spain’s IBEX fell by 0.1%.
Fears of a U.S. recession have been sparked by the Fed’s relentless tight monetary policy, which is expected to have a significant impact on the global market given the significance of the largest economy on the planet.
As investors demand additional information on the timing of future raising rates, this brings the presentation by Fed Chairman Powell later in the day sharply into focus.
In Europe, figures from the British Retail Consortium and KPMG, issued early Tuesday, revealed that U.K. retail sales went up 6.5percentage points previous month compared to a year earlier.
This occurs as US futures continue to trade bit weaker, with the S&P 500 futures down at the moment 8 points, or 0.2%. Following Monday’s decline on Wall Street, which included some late selling, comes the pullback in Europe. As we anticipate for comments from Fed chair Powell late in the day, the market’s overall attitude is currently more cautious and timid.
