Morning Report 8 Mar 23: US sharemarkets tumbled

US sharemarkets tumbled on Tuesday after US Fed chief Jerome Powell signalled that officials are ready to speed up the pace of policy tightening and take interest rates to higher levels to control rising consumer prices. Recession worries weighed on US banks.  At the close of trade, the Dow Jones index fell by 575 points or 1.7%. The S&P 500 index shed 1.5%. And the Nasdaq index slid 145 points or 1.3%.

 

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