Market Quote : Signs of returning contagion fears in regional US banks also weighed on the global market mood Says Mr. Vinod Nair, Geojit Financial Services
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Below Quote on Market 04 MAy 2023 By Vinod Nair, Head of Research at Geojit Financial Services
"Following a widely expected rate hike by the Fed and consistent foreign support, the domestic equities resumed its bullish momentum, driven by gains across major sectors. However, the US market faced losses as the Fed reiterated concerns over elevated inflation despite softening its language on future rate hikes. Signs of returning contagion fears in regional US banks also weighed on the global market mood"
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