Services
  • Services


  • Payment Methods


  • Swift/IBAN

Services

USD:

Buy:

1.3429

/

Sell:

1.3884

0.03%


0.03%


EUR:

Buy:

1.4492

/

Sell:

1.5014

0.03%


0.03%


GBP:

Buy:

1.6942

/

Sell:

1.75

0.05%


0.05%


JPY:

Buy:

0.00871795

/

Sell:

0.00929315

-0.12%


-0.12%


April 14th 2024, 4:05:05 am

(about a few seconds ago)

US equity markets post the worst two-week performance since June.

Share On

North American equities plunged this week, recording their worst two weeks since June, and Nasdaq entered a bear market, down 20% from its previous high, as investors are betting more on the hawkishness of the US central bank and the higher risk of economic recession. The US S&P 500 and Nasdaq declined 4.65% and 5.07%, and Canada’s S&P/TSX Composite lost 4.67%. Equities wiped out June and August gains.

 

The market is taking Fed officials for their word, believing the central bank will keep hiking rates to fight inflation, and they are willing to cause a recession. In the last days of the quarter, next week, markets will remain volatile and be tested.

 

Central banks worldwide are turning more hawkish, including the UK, which raised the policy rates by 0.5% 5o 2.25. Still, the sterling fell to the lowest level against the US dollar since 1985. Each British pound trades for 1.08 US dollars. Japan"s central bank is still reluctant to follow the hiking pursuit, facing the Yen"s continued weakness. Each USD buys 1.43 Japanese Yen.

 

Commodity prices continued their decline, with the risk of recession getting bolder. West Texas trades at US79.4 a barrel on Saturday.