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Markets remain nervous as sticky inflation data stands in the way of rate cuts
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Wall Street is nervously watching for the first signs of falling inflation needed for the Fed to contemplate rate cuts.
PHOTO: REUTERS
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SINGAPORE - With the threat of all-out war in the Middle East receding somewhat, the fear afflicting the market now is slower-than-expected growth, accompanied by sticky inflation and higher-for-longer interest rates.
On April 25, investors dumped stocks after US gross domestic product (GDP) growth came in at a 1.6 per cent annualised pace in the first quarter, falling well short of expectations of 2.5 per cent.
