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The Wall Street Dow Jones Industrial Average closed below 30,000 for the first time in more than a year.
One day after the US Federal Reserve raised its key interest rate by 0.75 percentage points, the largest increase in nearly 30 years, the Bank of England on Thursday raised its key interest rate from 1% to 1.25%, the highest level since The 2009 global financial crisis.
The Swiss National Bank (BIS) unexpectedly decided on Thursday to raise the key interest rate in a bid to fight high inflation. The central bank raised the deposit rate from minus 0.75% to minus 0.25%. The BIS raised interest rates for the first time since 2007.
European Central Bank (ECB) plans to raise interest rates next month, for the first time in 10 years.
“Although the FRS was expected to act, the BIS [procentlikmju] the increase was shocking and surprised investors unprepared. “Stronger and faster interest rate hikes on the part of central banks mean that it will be difficult to avoid a recession,” said Fiona Sinkota, an analyst at City Index.
European stock markets closed the trading session at a three-month low. The indices of the London and Frankfurt stock exchanges fell by more than 3%, while the index of the Paris stock exchange fell by 2.4%.
The Dow Jones Industrial Average fell 2.4% to 29,927.07 points on Thursday, the Standard & Poor’s 500 fell 3.3% to 3,666.77 points and the indexNasdaq Composite ‘decreased by 4.1% to 10,646.10 points.
The London Stock Exchange index FTSE 100 fell 3.1% to 7044.98 points on Thursday, the Frankfurt stock exchange index DAX 30 fell 3.3% to 13,038.49 points, while the Paris Stock Exchange index CAC 40 fell 2.4% to 5,886.24 points.
In the New York Stock Exchange, WTI crude rose 1.6% to $ 117.08 a barrel on Thursday. The price of Brent crude oil rose 0.7% to $ 119.28 a barrel on the London Stock Exchange.
Euro against the US dollar rose from 1.0444 to 1.0550 dollars per euro on Thursday, the British pound rose from 1.2180 to 1.2350 dollars per pound, while the US dollar fell from 133.84 to 132.14 yen per dollar. The euro fell from 85.75 to 85.40 pence per euro against the British pound.
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