MSCI’s all-country index has fallen more than 3 per cent so far in August
pressures were moderating, but were on course to end August with their worst monthly performance of 2023 so far.
Wall Street stocks rallied on Tuesday, with all three of its major stock indexes ending sharply higher. Data showed U.S. job openings dropped to the lowest level in nearly 2-1/2 years in July, signalling inflation pressures caused by a tight labour market and companies were easing ahead of the Fed’s Sept. 19 meeting.
Europe’s Stoxx 600 share index was steady in early dealings as investors assessed inflation reports from Spain and Germany ahead of the euro zone consumer prices report for August on Thursday.In North Rhine Westphalia, Germany’s most populous state, consumer prices in August rose 0.5% month-on-month and 5.9% year-on-year.
“The tightening cycle is now complete if the growth slowdown pointed to by high frequency indicators is confirmed,” Ardagna said.
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