Global equity markets have been volatile in recent sessions as investors have worried about the impact that aggressive rate hikes by central banks would have on slowing economies. The pan-European STOXX 600 index had lost 0.53% while the MSCI's gauge of stocks across the globe shed 0.31%. While the Fed has said it is willing to risk a recession in order to tame inflation "it's possible that as the recession risks increase they may lose their nerve a little bit," and slow their tightening, said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance in Charlotte, North Carolina. Number one concern continues to be inflation." "That's not the number one concern right now. "Maybe there is a bit of hope within the minutes that basically officials are weighing the risk of going too hard or going too high on hiking," said Juan Perez, director of trading at Monex USA in Washington. 20-21 meeting showed many Fed officials "emphasized the cost of taking too little action to bring down inflation likely outweighed the cost of taking too much action."īut the minutes also showed some dovish undertones with some participants noting the importance of calibrating the pace of tightening to mitigate risks to the economy. Wall Street indexes struggled to find direction after the minutes of the Sept.
Sterling regained ground after a sharp fall the previous day as investors eyed the Bank of England's next steps. The dollar pared gains after earlier climbing to a fresh 24-year peak versus the yen, holding above levels that prompted intervention by Japan last month. NEW YORK/LONDON (Reuters) - Wall Street's equity indexes ended Wednesday's volatile session in the red and the dollar made little progress while bond yields fell as investors digested minutes from the latest Federal Reserve meeting and waited for a key U.S.
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