Wall Street falls on rate hike worries streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
Wall Street falls on rate hike worries streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
The U.S. economy kept up a strong pace of growth in the fourth quarter, but momentum appears to have slowed considerably towards year-end, with higher interest rates eroding demand.
The euro rose 0.15% to $1.0884, holding near a nine-month high supported by expectations the ECB can continue to raise rates to curb inflation, without worrying too much about damaging growth. "For the ECB, this should seal the deal for a 50-basis point hike next week," said ING economists in a note.