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A burst of hawkish Federal Reserve commentary earlier in the week and growing concerns about the economy continued to weigh on the major US indices last Friday, leaving the Nasdaq Composite down 1.4% for the week and the S&P 500 Index also 1.4% lower. Last week’s losses represent the Nasdaq’s first such decline in nine weeks, and the S&P 500‘s first drop in six weeks. Recession worries appeared to weigh especially heavily on small caps, as the Russell 2000 fell nearly 3% for the week to end at its lowest level since 5th June. Elsewhere, European shares fell for a fifth consecutive session on Friday and booked a 2.5% weekly loss, the most since March, as investors grappled with the impact of major central banks’ monetary tightening measures and disappointing economic data.
Summary for 26.06.2023
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