Markets seemed to begin stabilizing over the last week or so. However, disappointing earnings reports from some major technology companies have caused a negative reaction in markets. In addition, the Bank of England decided to raise interest rates Thursday morning, with the European Central Bank likely moving in the same direction. It appears that we are in the beginning of a coordinated global tightening. Given the expectation that the Federal Reserve will raise the Fed Funds rate in March, in my opinion, investors should not be surprised by the actions of other global banks.
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