Stocks Have a Blood Bath in Us

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Stocks during the regular trading session, big indices had their worst day in nearly a year. One reason for that was because space books par ant company meta reported disappointing earnings. E c b president christiane legard refused to rule out arisein rates this year. This has really sent a rocket into european bond markets. There's this growing sense that central banks have found themselves behind the curve. They've been far too cautious in dealing with it. And they might have to really scramble to catch up.

Wall Street stocks slumped on Thursday after disappointing earnings reports in the technology sector from Facebook parent Meta, Turkey and Ukraine signed a deal to deepen defence co-operation in defiance of warnings from Moscow, and Olympics sponsors are accused of ignoring the plight of China’s Uyghur Muslims. The FT’s Andrew Edgecliffe-Johnson talks about the pressure on companies and how they are responding.

Mentioned in this podcast:

Amazon shares surge on Prime price rise and boost from cloud division

Beijing Olympics: the new front line in the US-China cold war

Erdogan visit to Ukraine tests complex ties with Putin

US stocks dragged lower by downbeat tech earnings

The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

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