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US shares fall on threat of interest rate rises

Posted on AllSides August 29th, 2022
From The Center
Economy and Jobs, Interest Rates, Jerome Powell, Stock Market
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Stock markets in the US opened lower on Monday amid concerns the country's central bank will push ahead with further interest rate rises.

Jerome Powell, chairman of the Federal Reserve, said hikes would continue in a bid to stem the rate of rising prices.

The Dow Jones Industrial Average, the technology heavy-Nasdaq and S&P 500 indexes all fell in early trading.

Inflation in the US is at a four decades-high and the US economy has shrunk for two consecutive quarters.

That milestone in many countries would be considered an economic...

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