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The New Daily

Tony Sycamore

Recession fears and high inflation top this week’s big market events

Jerome Powell Recession Inflation RBA US Federal Reserve United States Economy

Federal Reserve chair Jerome Powell conceded steep interest rate hikes could trigger a recession. Photo: AAP/TND

US sharemarkets bounced as the Juneteenth long weekend provided a circuit breaker, allowing investors to regroup after US equity markets plunged more than 10 per cent over the previous two weeks.

The rebound was also supported by end-of-month, end-of-quarter and end-of-year rebalancing flows.

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