Wall Street’s selloff in tech heavyweights dragged down global markets on Wednesday, as investors cashed in gains from the leaders of the post-April rally.
Europe’s Stoxx 600 dropped 0.1% after closing within a whisker of an all-time high on Tuesday. Technology stocks fell as much as 0.9% before paring the loss. Investors took shelter in defensive sectors, with real estate and utility stocks among the biggest gainers. Asian stocks retreated 0.7%
Elsewhere, UK inflation climbed to an 18-month high on the back of surging food, fuel and transport prices, putting the Bank of England under pressure to reconsider the pace of interest-rate cuts. Consumer prices rose 3.8% from a year earlier, up from 3.6% in June and the fastest pace since January 2024, the Office for National Statistics said Wednesday.
Today’s guests: Johanna Kyrklund, Schroders Group CIO, Greg Fleming, Rockefeller Capital Management CEO, Dean Forbes, Forterro CEO.
Chapters:
00:00:00 – The Pulse With Francine Lacqua
00:00:59 – Bessent Says China Tariff Status Quo ‘Working Pretty Well’
00:02:11 – After Putin Call, Trump Rang Orban Over Ukraine EU Membership
00:08:11 – Stock Rally Pauses After Wall Street Tech Selloff
00:10:43 – Johanna Kyrklund, Schroders Group CIO
00:15:43 – Fed’s Michelle Bowman
00:21:06 – UK Inflation at 18-Month High as Food, Transport Costs Soar
00:26:22 – Greg Fleming, Rockefeller Capital Management CEO
00:30:14 – Miners in the Spotlight
00:34:30 – Spain, Portugal Wildfires Weigh on Tourism Sector
00:38:46 – Dean Forbes, Forterro CEO
00:45:45 – UK July CPI Rises Faster Than Expected
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