World stock exchanges closed lower on fears of a global recession

Aggressive raising of rates by central banks of different countries inspires investors with increasing fears concerning the approach of the global recession. By the end of Thursday the world stock exchanges closed in the red zone. In addition to recent raise of interest rate by 75 b. p. by Fed, pessimistic sentiment was intensified by the statement of the head of department Jerome Powell that it is possible to raise it by 125 b. p. additionally by the decision of the Bank of England to raise the rate by 50 b. p. yesterday.

Against this backdrop, major Asian, European and US indices closed Thursday with a drop. In Asia-Pacific region the decline was 0.58% - 1.61%, in Europe - 1.08% - 1.84%, in the USA - 0.35% - 1.37%.

Gold rose 0.3% to $1680.9 per troy ounce. The dollar index also strengthened, showing growth of 0.57%. Oil prices also rose because of the recession threat and, consequently, decreased demand - Brent was traded at $90.45 per barrel in the evening, adding 0.7%, and WTI at $83.52 (+0.7%).