CNBC Daily Open: Markets fall on hot economy — and chance of 0.5% interest rate hikes
Publishing timestamp: 2023-02-17 01:11:50
Summary
US stocks fell on Thursday due to Microsoft, Disney and Tesla's declines. Asia-Pacific markets followed, trading lower on Friday. US producer price index rose 0.7% in January, higher than expected. China Renaissance's CEO is unable to be contacted and Tesla is recalling vehicles with its experimental driver-assistant software. Bernstein analyst Gautam Chhugani predicts a comeback for PROCrypto in 2023. US economy is doing well, but markets caved in yesterday due to hawkish rhetoric from the Federal Reserve.
Sentiment: NEGATIVE
Keywords: markets, walt disney co, interest rates, autos, jobs, japan, inflation, world markets, federal reserve bank, microsoft corp, business news, tesla inc, technology, australia, united states,