Bear Grip Tightens Global Equities

Wall Street indices suffered heavy losses with the S and P 500 index falling to levels seen in November 2020 as the triple threat of inflation, swelling interest rates and recession continues

"For the first time since 2009, the past week marked the third straight quarter of declines owing to which market volatility has returned over in the fortnight, especially following the most recent FOMC meeting."

The global equities fell for a third consecutive week due to market turmoil in the UK and indications that the Federal Reserve still has work to do in containing inflation, while the yield on the standard 10-year US Treasury note temporarily crossed the 4 per cent threshold for the first time since 2008. The S and P 500 index dropped down to levels seen in November 2020 after breaking below mid-June lows. For the first time since 2009, the week marked the third straight quarter of declines. Market volatility has returned over the past few weeks, especially following the most recent FOMC meeting.