Edited By WION Video Desk
Published: May 16, 2024, 05:50 IST | Updated: May 16, 2024, 05:50 IST
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World Business Watch May 16, 2024, 05:50 IST
Great 'vibecession' rages through an $11 trillion stock boom
Asian stocks extended their gains to above a two-year high, tracking a surge in Wall Street stocks after US inflation cooled more than expected. Easing inflation and weakening economic activity have fueled federal reserve rate cut bets. Shares in Australia, South Korea, and mainland China climbed, while those in Hong Kong reopened with gains after a holiday. Japanese stocks mostly rose but pared earlier gains.
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