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The ASX’s retail behemoths were crushed on Thursday after the wrath of surging inflation spread to America’s Main Street and intensified investors’ anxiety.
The ringgit weakened past 4.4 against the US dollar for the first time since the onset of the Covid-19 pandemic in March 2020 on Thursday (May 19) after depreciating to its weakest point so far on Thursday at 4.4078 against a strengthening US dollar in anticipation of US interest rate hikes to fight inflation.
Wall Street drops after retail giant Target hit by rising fuel and freight costs
LONDON, May 19 — Heavy falls in European and Asian stock markets followed Wall Street’s worst day since mid-2020 today, as stark warnings from some of the world’s biggest...
Investors flee equities amid concerns over global inflation, China’s zero-COVID policy and the Ukraine war.