Global stock market sell-off: Chris Wood of Jefferies decodes impact | News on Markets
The hike in rates by the Bank of Japan (BoJ) came as a surprise to the global stock markets that have seen a significant correction in the last two trading sessions, said Christopher Wood, global head of equity strategy at Jefferies in his weekly note to investors, GREED & fear.
BoJ had raised the policy overnight call rate by 15 basis points (bp) to around 0.25 per cent last week. That apart, the Japanese central bank plans to cut the amount of its monthly JGB purchases going forward by about Y400 billion each calendar quarter from Y5.7 trillion in July to about Y3 trillion in January – March 2026.
“This was not what the…
