Stock markets fell deeper into the red on Thursday after widespread losses yesterday on the back of the tense mood in the Middle East that has fanned the rally in crude oil, which in turn is pushing up soaring bond yields even higher.
The slowdown in the world’s second-largest economy seems to be deepening, as the dual crises in the manufacturing and real estate sectors have dampened growth momentum.
The markets’ conviction that the Fed's July rate hike was a one-and-done got a boost on Friday after the central bank’s favourite inflation metric fell more than expected, underscoring the view that price pressures no longer pose a major risk.
Stocks in Asia slipped on Monday on the back of the underwhelming data about the world’s second-largest economy.
Equity markets were mostly on the backfoot again on Tuesday as an expected rate cut in China failed to ease concerns about the flagging economy while constantly shifting rate hike expectations elsewhere added to investors’ apprehension.