The sell-off was prompted by comments from Federal Reserve chair Jay Powell on Wednesday that signalled the central bank could raise rates to tame inflation sooner than investors had previously thought, rather than maintain supportive policy indefinitely. The sudden shift sent investors fleeing from shares favoured in the so-called “reflation trade”, or those that benefit from higher inflation, which has dominated markets since the launch of Covid-19 vaccination drives late last year.
Global stock sell-off deepens as reflation trade unravels
2021-06-21T04:41:45-04:00June 21st, 2021|
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