Home Business Wall Street prices an almost certain recession with Fed shock. Ftse Mib (-3.3%) collapses to 2022 lows

Wall Street prices an almost certain recession with Fed shock. Ftse Mib (-3.3%) collapses to 2022 lows

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Wall Street prices an almost certain recession with Fed shock. Ftse Mib (-3.3%) collapses to 2022 lows
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Piazza Affari puts it in reverse again after the rebound on the eve. The Ftse Mib closed trading scoring -3.32% to 21,726 points. These are the lowest closing levels of 2022. Central bank moves hold the ground. The Federal Reserve announced a 75 basis point rate hike last night, the tightest tightening since 1994. And now the Fed’s median forecasts indicate rates will rise to 3.4% at the end of 2022. Wall Street reacted initially well to the announcement of the maxi-tightening on rates, while today the sales are back on the rise on the growing fears of an imminent recession. According to JP Morgan strategists, the S&P 500 at these levels implies an 85% chance of a US recession amid fears of the Federal Reserve failing to raise rates that much.

Among the worst stocks of the day Tenaris with over -6%. Mediobanca (-4.61%) and ENI (-4.89%) were also very bad. The sharp decline in the US tech sector weighed on STM today, which closed at -6.3%.

On the parterre of Piazza Affari, Saipem is saved, with + 2.55% in the area of ​​38.255 euros. Nexi also did well (+ 1.08%).

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