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Wall Street Nervous Ahead of US Inflation Report
Shares in Asian markets dipped today as investors anxiously await a crucial U.S. inflation report due on Friday. The report’s findings could significantly impact interest rates and global markets.
Key Points:
Focus on Inflation: The U.S. Federal Reserve closely monitors the Personal Consumption Expenditures (PCE) index, a key measure of inflation. Recent mixed data has left investors in a wait-and-see mode, wondering when the central bank might adjust interest rates.
Chinese Property Market: Efforts to revive China’s property sector have fallen short. Despite Beijing’s measures to cut down-payment ratios and mortgage interest rates, the market remains sluggish. Dozens of property developers defaulted on debts, affecting the entire Chinese economy.
Wall Street’s Reaction: Wall Street is cautious, with the Hang Seng down 2% and the Shanghai composite index slipping 0.6%. Investors worldwide are closely monitoring the inflation report’s impact.
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