US stocks end with steep declines

NEW YORK (AFP) – Wall Street equities ended with solid losses on Tuesday as US central bankers opened their two-day policy meeting which is widely expected to end with a three-quarter-point interest rate hike. Fed officials have vowed to raise rates to bring down soaring inflation, with some observers speculating about a possible one-percentage-point move. […]

More pain ahead for markets after Fed chairman Powell’s stark warning

SINGAPORE – 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 (Aug 26). The huge thud heard from Wall Street is likely to reverberate through global markets this week as stock investors […]