Markets were mostly higher on Monday.
The S&P 500 jumped 1.4 percent and the STOXX Europe 600 rose 0.7 percent.
Earlier in the day, the Nikkei 225 had plunged 3.3 percent.
“The Fed inspired sell off looks like it was overdone,” said Fiona Cincotta, senior financial markets analyst at City Index.
Still, Mike Wilson, chief US equity strategist at Morgan Stanley, said that the signal from the Federal Reserve last week “is just the moment of recognition for a tightening trend that began months ago”.
“When combined with the peak rate of change in economic and earnings revisions, it sets up a more difficult summer,” added Wilson.
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