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Market volatility remained the focus this past week. On Wall Street, the Dow Jones, S&P 500 and Nasdaq 100 fell about 1.8%, 2.3% and 2.9%, respectively. Things were not looking much better in Europe. The DAX 40 and FTSE 100 sank roughly 3.3% and 1.5%, respectively. In the Asia-Pacific region, the Nikkei 225 and Hang Seng Index dropped 1.7% and 2.3%, respectively.
This was despite a softer US inflation report for November. The focus remained on central banks instead. The Federal Reserve delivered a 50-basis point rate hike and continued to stress that more work needs to be done on fighting price pressures. Meanwhile, the European Central Bank surprised markets with a more aggressive hawkish tone.
The latter meant a relatively solid week for the Euro. Unsurprisingly, risk aversion meant that the sentiment-linked Australian and…
