Market report: Fed brings surge in stock prices to ‘temporary’ halt
JOHANNESBURG – After one of the best recoveries the previous week, market sentiment turned nervous last week.
The sudden turnaround in Covid-19 infections in the US, as the number of infections passed 2 million, as well as comments by US Federal Reserve chairperson Jerome Powell, brought the strong surge in stock prices last Wednesday to an end.
Powell said the Fed will not consider using negative interest rates to stimulate the economy further, a comment that was not welcomed by US President Donald Trump.
Source: iol.co.za