Markets see wild swings as investors fret over Ukraine, US interest rate hikes
30 January 2022 | 12:55 pm
It's been a rollercoaster 24 hours on global stock markets, with huge swings on Wall Street and volatility hitting its highest level since October 2020. Investors are waiting for the decision from the US Federal Reserve on when it will start raising interest rates, but are also concerned about the rising tensions at Ukraine's border. Meanwhile, Bitcoin has slumped as low as $33,000, down over 50 percent from its peak in November. Our Business Editor Stephen Carroll has the details.
Western nations are rushing to revive the 2015 Iran nuclear deal amid reports that Tehran is boosting its uranium enrichment.
The crowds expressed optimism that the conservative-majority Supreme Court might soon overturn the Roe vs. Wade ruling, which guarantees a constitutional right to abortion.
The US saw 7% year-over-year price increases in December, the largest hike in nearly four decades. This comes as omicron threatens to snarl supply chains once again.
Russia still seems to be beefing up the military presence on its border with Ukraine, while Kyiv has received military support from the US and the UK. Germany won't send weapons to Ukraine, saying that would only escalate the situation.
The West still doesn't know why war in Ukraine might happen, but it increasingly seems like it's happening. Kiev is trying to keep calm and rally support while being surrounded on three sides and being the recent victim of a cyberattack that feels like a dry run. Meanwhile, NATO countries are sending weapons and advisors while deploying fresh troops elsewhere in Eastern Europe. But that's small compared to the 100,000-plus forces amassed by Moscow.
The United States has warned that companies' stockpiles of semiconductor chips have shrunk dramatically due to the global supply shortage, putting production at risk from any disruption. A survey of 150 firms for the Commerce Department found the median stocks held by manufacturers had fallen from 40 days' worth in 2019 to just 5 days' worth in 2021. It comes as Democrats in the House of Representatives published a bill for investment worth $52 billion in the sector.
Russia still seems to be beefing up the military presence on its border with Ukraine, while Kyiv has received military support from the US and and its NATO allies. Germany won't send weapons to Ukraine, saying that would only escalate the situation.
The US Supreme Court is expected to rule on Mississippi's 2018 abortion law. The decision could upend long-established abortion rights across the country. DW met a Kentucky activist who says she'll continue to fight for a woman's right to decide.
The US Federal Reserve is setting the stage to raise interest rates in March, to combat elevated inflation. It's also taking further steps to phase out its emergency support of the US economy. Nancy Vanden Houten, Lead US Economist at Oxford Economics, says America's central bank has limited tools to fight the surge in prices. Also in the show - workers at France's EDF go on strike, over government efforts to limit electricity bills.
As Antony Blinken responds in writing to Russia's demands for an overhaul of Eastern Europe's security architecture, in the same breath he urges American citizens in Ukraine to leave. This Wednesday's "Normandy Format" talks, including France, Germany, Russia and Ukraine, serve as a reminder that Ukraine has already lost its territorial integrity – back in 2014 when Russia annexed Crimea and supported the insurgency that's raged since in the southeast. So what is Moscow after this time?
Stock markets slumped in Asia on Thursday and European shares started the day's trading in the red, after signals from the US Federal Reserve that it could raise interest rates more than three times in 2022. Fed Chair Jerome Powell said the central bank's policy committee was "of a mind" to start raising rates in March, and that it would be guided by the economic data. FRANCE 24's Business Editor Stephen Carroll looks at market reaction to the announcements.
Joe Biden says he isn't ruling out personal sanctions on Russian President Vladimir Putin if he invades Ukraine. The threat from the US president comes as tensions between Moscow and the West continue to heat up. On Tuesday, the third instalment of US military equipment landed in Ukraine and more than 8,000 American troops stationed in Europe have been placed on standby.
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