World stocks have had one of the worst weeks in recent memory. Friday’s trading ended with the majority of major stock exchanges falling by more than 1.5 percent, and technology titles often fell by more than two percent.
“It is very difficult to predict where and when something will break. Until now, we were counting on a short and shallow recession, but that is now gone. Now we are starting to prepare for the consequences of a much tougher monetary policy,” Mike Kelly, head of the American investment company PineBridge Investments, told Reuters.
Shares fell almost everywhere in the past week. Both in Asia and Europe and on Wall Street. The bad week was rounded off by Friday’s decline, which most often ranged between 1.5 and 2 percent, technologies often weakened by more than two percent.
According to the founder of the American company DataTrek Research Nicholas Colas, such developments must be expected until the strengthening of the American dollar stops. “Until then, the markets will not find a durable bottom,” he told Marketwatch.com. But the strengthening of the dollar will most likely not end until the Federal Reserve abandons its relatively tough hawkish policy of rapidly raising interest rates.