- Equities and gold slide, dollar gains after Federal Reserve ups economic forecasts, suggesting less chance of stimulus.
- “The recovery is here, it’s well along,” Fed Chairman Jerome Powell said at a press conference on Wednesday.
- S&P 500 futures fall 1.2%, pointing to a second day of losses, dollar index rises 0.1%.
- “Markets always want more,” Robert Carnell, regional head of Asia-Pacific research at ING, said. “But, should you keep feeding them?”
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Global stocks slid on Thursday, while the dollar edged up, after the US Federal Reserve gave no indication that any new stimulus measures would be forthcoming, as the economy continues to recover from the effects of the coronavirus pandemic.
In its last meeting before US presidential elections in November, the Fed raised its forecasts for US economic growth, inflation and predicted unemployment will shrink faster