The bulls are in control as stock markets in Europe and the US are showing strong gains.
European stock markets are suffering as there are fears the continent is going down a gear in terms of growth.
Worries about the health of the global economy have resurfaced and that has a triggered a wave of selling across the board as stocks, metals and oils are deep in the red.
Once again, the mood on Wall Street is setting the tone for Europe as the impressive rebound in US stocks are helping equities on this side of the Atlantic.
Volatility is low in the markets as the US marks Juneteenth. The New York Stock Exchange remains closed, and in turn that has prompted traders in other parts of the world to wait on the side-lines.
Volatility in equity markets has faded following the flurry of central bank meetings this week.
It is a bloodbath for stock markets as recession fears have prompted traders to cut and run. In a bid to try and push inflation down, the Federal Reserve lifted interest rates by 0.75% last night – it was the largest hike since 1994 – the drastic move speaks to the severity of the situation.
Stock markets have rebounded from the brutal losses that were witnessed yesterday as government bond yields have cooled a touch.
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