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The New Daily
The New Daily
Tony Sycamore

Market Wrap: Volatile inflation and a deluge of data as China emerges from lockdowns

The release of a deluge of data in China will provide fresh insights into the economic impact of the COVID-19 lockdowns.

US stockmarkets closed lower on Friday, following a robust US jobs report that strengthens the argument for a 50 basis point hike at the September FOMC meeting.

Adding to the malaise, the share price of Tesla fell 9 per cent after CEO Elon Musk said he has a bad feeling about the economy and needs to cut 10 per cent of the EV maker’s workforce.

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