Global stocks mostly rose on Wednesday as traders tracked House Speaker Nancy Pelosi’s visit to Taiwan, which has further strained China-US ties. The highest profile trip to Taiwan in 25 years by a US politician met with condemnation from Beijing, which warned of serious economic and military consequences. The news had sent shivers on Tuesday through trading floors that were already on edge over the Ukraine war, surging inflation, rising interest rates and slowing economic growth. However, most equity markets edged upwards on Wednesday. London nudged higher on the eve of a widely expected half point interest rate hike in Britain.
Published in The Express Tribune, August 4th, 2022.
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