Roundup Newswires

Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network

US stocks see worst day this year as Fed rate hike rattles investors

Posted on May 5, 2022 by Admin

Dow falls 3.1% a day after the Fed chair announces biggest hike in two decades to combat inflation

US stock markets suffered their worst day of the year on Thursday as investors worried about the Federal Reserve’s plans to raise interest rates to tackle soaring inflation.

The Dow Jones Industrial Average lost over 1,000 points (3.1%). The S&P 500 and Nasdaq Composite fell 3.5% and 4.9% respectively. Tech stocks were particularly hard-hit, with Amazon dropping 7.6% and Tesla falling 8.3%.

US inflation hits highest level in 40 years in January as prices rise 7.5% from 2021

Posted on February 10, 2022 by Admin

Inflation has been driven higher by soaring demand and lack of supply caused by Covid pandemic’s global impact on trade

The rise in global inflation

Inflation in the US climbed to its highest level in 40 years in January, with prices rising by 7.5% from a year ago, the Bureau of Labor Statistics reported on Thursday.

The rise in the consumer price index (CPI) survey – which measures the costs of a wide variety of goods – was the largest since February 1982. CPI rose 0.6% from December, higher than expected.