The CommSec Market Update 22 Feb 23: US shares slump 2% on fears of higher interest rates

A key catalyst for the declines was a new reading of the purchasing managers index that rebounded to hit an 8-month high. In other words, a case of good news= bad news. According to the futures market, Aussie shares may start trade 0.6% lower. The Aussie dollar is near US68.5 cents.

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