Markets in Europe are expected to remain muted amidst overwhelming anxiety regarding prolonged period of interest rate hikes. Close on the heels of the Fed's rate hike on Wednesday, the Bank of England and the European Central Bank, both raised rates by 50 basis points, instilling fresh fears of a recessionary economic scenario.
The fears of the Fed's aggressive interest rate hiking cycle triggering a painful recession had dragged the Wall Street lower on Thursday, with the Nasdaq Composite shedding a whopping 3.2 percent to close at 10,810.53 and the Dow Jones Industrial Average plunging 2.3 percent to finish trading at 33,202.22.
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Business News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.