Bargain-buying helps most markets bounce

By Agence France-Presse

Aug 31, 2022 12:21 am

HONG KONG: Most markets rebounded on Tuesday on bargain-buying following the selloff the day before, but confidence remains at a premium as traders weigh the prospect of more Federal Reserve (Fed) interest rate hikes and a possible recession.

Wall Street suffered another day in the red after last Friday's capitulation in response to a warning from Fed Chairman Jerome Powell that more tightening was needed to bring inflation in the United States down from four-decade highs.

BAD NEWS BEARER Financial news is seen on the floor of the New York Stock Exchange during afternoon trading in New York City on Monday, Aug. 29, 2022 (August 30 in Manila). GETTY IMAGES PHOTO VIA AFP

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