U.S. stocks edged lower on Thursday on worries about the raging conflict in Ukraine and the outlook for U.S. interest rate hikes, putting the main indexes on course for their worst quarter since the pandemic crash in 2020.
The Federal Reserve approved the first interest rate hike in the U.S. since 2018 this month, and several more increases seem likely in the months to come.
Investors expect the Federal Reserve to move much more aggressively with hiking interest rates in the coming months as inflation rises to multidecade highs.
The Bank of England has warned that inflation could hit 8 per cent by as early as next month in Britain as it raised interest rates to pre-pandemic levels on Thursday.
