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Market Outlook: Hawkish central banks increase pressure

Stock markets shifted in a somewhat negative direction last week, due to divergent inflation statistics during June as well as the central bank response, which clearly indicated higher key interest rates ahead. Between June 16 and June 23, America’s broad S&P 500 index closed 1.4% lower and the Stoxx Europe 600 lost 2.9%. The OMXS30 large cap index fell by 3.8% during Sweden’s shortened trading week. The turbulence that unfolded in Russia over the weekend is likely to fuel further stock market uncertainty. 

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