- US stock market falls for the fifth consecutive week
The US stock market fell for the fifth consecutive week in the week ending June 1, 2023. The S&P 500, a broad measure of the US stock market, lost 1.6%, the Dow Jones Industrial Average lost 1.3%, and the Nasdaq Composite Index lost 2.5%. The declines were driven by concerns about inflation, rising interest rates, and the potential for a recession.
- Inflation hits 40-year high in the USA
Inflation in the USA rose to 8.6% in May, its highest level in 40 years. The rise in inflation was driven by rising energy and food prices. The Federal Reserve is expected to raise interest rates several more times this year in an effort to combat inflation.
- Fed raises interest rates by 0.75%
The Federal Reserve raised interest rates by 0.75% on Wednesday, the largest increase since 1994. The move is an effort to combat inflation. The Fed is also expected to start reducing its balance sheet in July.
- Indian stock market falls for the fourth consecutive week
The Indian stock market fell for the fourth consecutive week in the week ending June 1, 2023. The Sensex, a benchmark index of the Bombay Stock Exchange, lost 1.2%, and the Nifty 50, a benchmark index of the National Stock Exchange, lost 1.1%. The declines were driven by concerns about inflation, rising interest rates, and the potential for a slowdown in the Indian economy.
- Rupee hits record low against the dollar
The Indian rupee hit a record low of 78.34 against the US dollar on Friday. The rupee has been under pressure in recent months due to rising inflation and interest rates. The depreciation of the rupee makes imports more expensive, which could lead to higher inflation.
- Inflation hits 8-year high in India
Inflation in India rose to 7.04% in May, its highest level in eight years. The rise in inflation is being driven by rising food and fuel prices. The government is expected to take steps to control inflation, such as increasing the supply of food grains and controlling the prices of fuel.
- GDP growth slows to 4.1% in India
India's GDP growth slowed to 4.1% in the March quarter of 2023, from 4.7% in the December quarter. The slowdown is being attributed to a number of factors, including the ongoing trade war with China and the depreciating rupee. The government is expected to take steps to boost economic growth, such as increasing infrastructure spending and reducing taxes.
- Monsoon rains delayed in India
The monsoon rains, which are crucial for India's agriculture sector, have been delayed this year. The delayed rains could have a negative impact on crop production and food prices. The government is monitoring the situation and is ready to take steps to mitigate the impact of the delayed rains.
- China's economy grows at slowest pace in 28 years
China's economy grew at its slowest pace in 28 years in the first quarter of 2023. The slowdown was due to a number of factors, including the ongoing trade war with the USA and the government's efforts to reduce debt. The government is expected to take steps to boost economic growth, such as increasing infrastructure spending and reducing taxes.
- Japan's economy contracts for the first time in two years
Japan's economy contracted for the first time in two years in the first quarter of 2023. The contraction was due to a number of factors, including the ongoing trade war with the USA and the government's efforts to reduce debt. The government is expected to take steps to boost economic growth, such as increasing infrastructure spending and reducing taxes.
- UK economy shrinks in April
The UK economy shrank in April 2023. The contraction was due to a number of factors, including the ongoing trade war with the USA and the government's efforts to reduce debt. The government is expected to take steps to boost economic growth, such as increasing infrastructure spending and reducing taxes.
- Eurozone economy grows at slowest pace in six months
The Eurozone economy grew at its slowest pace in six months in the first quarter of 2023. The slowdown was due to a number of factors, including the ongoing trade war with the USA and the government's efforts to reduce debt. The European Central Bank is expected to take steps to boost economic growth,
