📆 Thursday, August 17
► European shares fell for a third straight day due to fears of more Fed tightening and further rising bond yields. The Stoxx 600 extended losses, dropping 0.3%. The Chinese economy is also still in focus with investors keeping an eye out for any additional signs of weakness.
► In the US, the major indices bore the brunt of another losing streak as the Federal Reserve minutes shed light on inflation risks and potential rate hikes. In the Fed meeting minutes it says “Most participants continued to see significant upside risks to inflation, which could require further tightening of monetary policy.” The Nasdaq Composite dipped by 1.15%, the S&P 500 by 0.76%, and the Dow by 0.52%.
► July's minutes from the US Federal Reserve raised worries that they will perpetuate rate hikes to suppress inflation. The US 10-year yield surged 6 basis points to 4.31% today, lurking a mere three basis points from last October’s high – a peak not seen since 2007.
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