“Following a 50 bps rate hike and hawkish message from the Fed on 14th, the ECB and BoE also hiked rates on 15th by 50 bps each and delivered, perhaps, a more hawkish message than the Fed. This synchronised rate hiking cycle has impacted sentiments leading to sharp cuts of more than 3% in Nasdaq, CAC and DAX,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.
