For subscribers
Market Watch
Expect more storms ahead after Fed chief's stark warning
With US central bank set to press on with steep rate hikes, global markets likely to feel impact
Sign up now: Get ST's newsletters delivered to your inbox
US Federal Reserve chairman Jerome Powell's tough talk of inflicting "some pain" on households and businesses in order to bring down stubbornly high inflation had its intended impact on the markets last Friday.
The huge thud heard from Wall Street is likely to reverberate through global markets this week as stock investors flee to the sidelines amid the prospect of a 75 basis point hike in the key Fed funds rate next month.
