Stocks dive over fears of the perfect storm
Tuesday 10th May 2022Markets are clearly concerned that there will be no soft-landing. There\u2019s the big fear that rate rises won\u2019t cut demand enough to compensate for inflation driven by supply chain disruption. The result, we\u2019re seeing inflation expectations remaining high, stocks taking big hits and the US dollar possibly the only safe haven there is. So, what will turn this situation around? NAB\u2019s Taylor Nugent says there has been no major data releases or news items to drive sentiment today, but risk-off uncertainty prevails. We have to wait for signs that inflation is starting to unwind. It might be way too soon, but signs of an easing of inflation in tomorrow\u2019s US CPI would be very welcome.
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