US inflation hit a 31-year high last Wednesday (10 November) amid warnings from the Federal Reserve of the emergence of new risks that may impact financial stability, while commentators have warned of a “bumpier” ride ahead.
After a strong start to the week - reaching new heights on Monday - the S&P 500 and Nasdaq slipped on Wednesday by 0.9% and 1.8% respectively, as October's consumer price index rose to 6.2%, renewing concerns over incoming rate hikes. The FTSE 100, meanwhile, managed to recover from a rocky few days, gaining 1% and closing in the green as UK growth slowed to 1.3% in Q3. "We have entered more volatile times," said Rupert Thompson, chief investment officer at wealth manager Kingswood. The current growth backdrop - still generally favourable by some standards - has been buoyed by mon...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
