Damage control

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Damage control
 © FinancialMirror 2022
By Jeffrey Halley 

New York had another tumultuous session overnight, dominated by noise from the crypto sector where (un)stable coins continued to suffer from untethering. Either the crypto noise was pushing equities down, or vice versa, I know not.

Regardless, the intraday sell-offs reversed, and a semblance of calm descended on Wall Street into the close. For that we can probably thank Jerome Powell, who stuck to the 0.50% rate hike script overnight, temporarily dispelling 0.75% nerves.

Currency markets, by contrast, continue to reflect risk concerns around the world.

The US Dollar...

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Article automatically added to our system on Friday, May 13, 2022

Damage control

Contents of this article including associated images are © FinancialMirror 2022
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