Markets Rebound Amid ECB Speculations and U.S. Tech Troubles

Global stock markets experienced a turbulent day as investors awaited signals from the European Central Bank about potential September interest rate cuts. Wall Street aimed for recovery after a tech slump, while the yen fluctuated and oil prices surged. Market volatility continued with mixed responses across different sectors.


Devdiscourse News Desk | Updated: 18-07-2024 18:43 IST | Created: 18-07-2024 18:43 IST
Markets Rebound Amid ECB Speculations and U.S. Tech Troubles
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Global stock markets navigated through a turbulent session on Thursday as attention shifted towards the European Central Bank (ECB) and potential signals for a September interest rate cut. The ECB's recent decision to keep rates unchanged has fueled speculation about policymakers' next moves.

Wall Street aimed for a recovery following its worst day since December 2022, driven by tech stock declines amid rumors of increased U.S. export curbs on semiconductor technology to China. Meanwhile, Japan's yen, which had scaled a six-week high, weakened in European markets. Investors also noted the rise in oil prices, with Brent futures up 0.4% and U.S. West Texas Intermediate crude gaining 0.7%.

In commodities, gold prices edged closer to recent record highs, reflecting the broader risk sentiment that's been jittery. Market analysts caution that the ongoing volatility could lead to broader risk reduction, especially with political comments adding to the tense atmosphere. As the markets digest this week's events, all eyes remain on central banks for future guidance.

(With inputs from agencies.)

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