Fed angst unnerves stocks, yen soars on Japan intervention hint

Published by
Reuters UK

By Dhara Ranasinghe LONDON (Reuters) – World stocks were stuck in a sea of red on Wednesday as markets braced for an even more aggressive U.S. Federal Reserve as inflation roars, and the yen jumped as Japan gave its strongest signal yet that it could act to shore up the battered currency. The yen rallied over 1%, pulling away from recent 24-year lows versus the dollar, on a report that the Bank of Japan had conducted a rate check in apparent preparation for currency intervention. Tuesday’s U.S. data showing underlying inflation broadening meanwhile reverberated globally. European shares slippe…

Read More