scorecardresearchGlobal Markets Wrap: Post-Fed Stock Rally Cools; Japanese Yen Jumps 1%

Global Markets Wrap: Post-Fed Stock Rally Cools; Japanese Yen Jumps 1%

Updated: 28 Jul 2022, 07:43 AM IST
TL;DR.
(Bloomberg) -- A rally in stocks cooled Thursday as investors contemplated the prospect of further Federal Reserve interest-rate hikes that sap economic growth even if the pace of tightening becomes less aggressive.
Federal Reserve Board Chairman Jerome Powell speaks during a news conference in Washington, DC, on July 27, 2022. - The US Federal Reserve on July 27 again raised the benchmark interest rate by three-quarters of a percentage point in its ongoing battle to tamp down raging price pressures that are squeezing American families. (Photo by MANDEL NGAN / AFP)

Federal Reserve Board Chairman Jerome Powell speaks during a news conference in Washington, DC, on July 27, 2022. - The US Federal Reserve on July 27 again raised the benchmark interest rate by three-quarters of a percentage point in its ongoing battle to tamp down raging price pressures that are squeezing American families. (Photo by MANDEL NGAN / AFP)