World shares dipped on Monday as the US Senate’s passage of a $1.9 trillion stimulus bill put fresh pressure on Treasuries and tech stocks with lofty valuations, raising inflation jitters.
Investors’ have been apprehensive for weeks due to fears of US President Biden’s $1.9 trillion stimulus plan affecting the economy.
Annual inflation index in Brazil rose above 5% in February for the first time in four years, official figures showed, above analysts’ expectations and almost certainly setting the seal on an interest rate hike next week.
The International Monetary Fund (IMF) said it approved a $500 million disbursement to Pakistan for budget support after the IMF Executive Board completed delayed reviews of Pakistan’s $6 billion loan programme.
Lebanon’s plight is not just piteous but shocking, to say the least. The reported wrangling among the politicians has dealt a body blow to the economy, with the currency losing a disastrous 90 per cent of its value and inflation spiralling sky-high.
Asian shares pushed higher on Friday after US President Joe Biden signed a $1.9 trillion stimulus bill into law, and as a retreat in bond yields overnight eased global concerns about rising inflation.
With growing food and fuel prices, India’s retail inflation increased in February as the Consumer Price Index rose to 5.03 per cent against 4.06 per cent in January.
Rising trade deficit along with chances of a populist budget might dampen rupee’s prospects during the coming week. Nevertheless, persistent interest of Foreign institutional investors (FIIs) in India’s equity market will arrest any sharp depreciation moves.
Egypt’s annual urban consumer price inflation eased to 4.3% in January from 5.4% in December, the official statistics agency CAPMAS said.