Global stocks fall amid concerns about an escalation in the Middle East
|'Higher rates for longer' and heightened tensions in the Middle East lead to a weekly loss for global stock indices, says Axel Rudolph, Senior Market Analyst at online trading platform IG.
Stocks end week in the red
“A hawkish Fed, surging US yields and the fear of an escalation in the Middle East have pushed global stock indices into negative territory for the week. An over 10% surge in the gold price in the past couple of weeks and rise in the price of oil to just below $90 for TWI is not helping inflationary pressures either with Fed Chair Jerome Powell yesterday re-iterating that US inflation remains too high and needs to come down."
German producer prices drop at record pace
“In an otherwise relatively empty economic calendar UK September retail sales slumped by a much worse-than-expected 0.9% month-on-month, showing that the cost-of-living crisis is a a drag on the British economy. In Germany producer prices dropped at a record pace as the country battles its recession. Next week's focus will be on the ECB's rate decision, US Q3 GDP and earnings by mega caps like Alphabet, Amazon, Meta and Microsoft."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.