U.S. stocks crashed, Russia plans to withdraw from WTO and WHO

May 29, 2024, 11:58 AM

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Highlights at a glance

Following Fed Chairman Powell's hawkish comments on interest rates, US markets experienced significant declines. The Nasdaq dropped 4.73%, while the S&P 500 saw a fall of 4.03%. Concerns over inflation and economic recession have led to a bleak outlook. Additionally, Russia's potential withdrawal from the WTO and WHO adds to global market uncertainties.

Last night, this morning, the international financial market was bleak. Following the Fed Chairman Powell yesterday, Powell "put the eagle" that he would raise interest rates to the highest level required to suppress inflation, Chicago Fed Chairman Evans also supported hawk operations, suggesting that at least 50 basis points in FOMC raised interest rates at least in June, reiterating hope Near neutral interest rates by the end of the year. Fed Chairman of the Philadelphia Hak also expected 50 basis points to raise interest rates in June and July, respectively.

Due to market concerns, poor inflation and poor financial report data have caused the United States to fall into economic recession, US stocks have opened low, and the three major indexes have all closed down sharply. As of the early morning of this morning, the Nasda Index fell 4.73%, the largest decline since May 6; the S & P 500 index fell 4.03%, the worst -day performance since June 2020; The biggest decline since the 11th.

International oil prices fell nearly 3%. WTI's June crude oil futures closed down 2.5%to $ 109.59/barrel. Brent in July crude oil futures closed down 2.52%to $ 109.11/barrel.

In addition, according to "Russia Today", on the 17th local time, Pyotr Tolstoy, vice chairman of the Russian National Duma, said that the Russian Parliament National Duma Zheng plans to discuss Russia's withdrawal from the World Trade Organization (WTO) The possibility of the World Health Organization (WHO).

Earlier, Russia has announced the withdrawal from the United Nations World Tourism Organization, the European Commission and the State Council of the Baltic Sea.

Tolstoy said, "The Ministry of Foreign Affairs sent a list of such agreements to the country's Duma, and we are planning to evaluate them with the Federal Council (Council on the Council), and then propose to withdraw from them."

Tolstoy claims that Russia has canceled its membership in the European Commission, and then left the WTO and WHO because they ignored all obligations related to our country. " He also expects the Russian government to amend Russia's international obligations and treaties, saying that these obligations and treaties will not bring any benefits at present, but will directly damage Russia.

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