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Market watch
Nervous markets will look to key US data this week
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Hawkish remarks by governor Lael Brainard sent the Nasdaq and S&P 500 plunging.
PHOTO: AFP
SINGAPORE - Hawkish comments by usually dovish Fed officials confirm the United States central bank will go aggressively into monetary tightening.
Remarks by governor Lael Brainard that the Federal Reserve will begin a "rapid" reduction of its US$9 trillion (S$12.3 trillion) balance sheet as soon as next month were enough to send the Nasdaq plunging 2.2 per cent and the S&P 500 falling over 1 per cent mid-week.
