European markets closed lower on Friday after Fed Chair Jerome Powell warned of some pain ahead in the fight against inflation. Stoxx 600 skid 1.7% following comments at the central bank’s Jackson Hole economic symposium. All other bourses too ended deeply in the red. On Wall Street too stocks plummeted after Powell said in his Jackson Hole speech the central bank won’t back off in its fight against rapid inflation. Stocks in the spotlight today – Cipla, Jubilant Pharmova, UltraTech Cement and RITES
first published: Aug 29, 2022 08:14 am
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