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France 24

Business

Prospect of US interest rate hikes sends stock markets tumbling

US Federal Reserve Asia FRANCE 24 Jerome Powell Stephen Carroll

BUSINESS DAILY © FRANCE 24

Stock markets slumped in Asia on Thursday and European shares started the day's trading in the red, after signals from the US Federal Reserve that it could raise interest rates more than three times in 2022. Fed Chair Jerome Powell said the central bank's policy committee was "of a mind" to start raising rates in March, and that it would be guided by the economic data. FRANCE 24's Business Editor Stephen Carroll looks at market reaction to the announcements.

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