Finance

Valuations of U.S. companies fell more than 17% after a rate hike from the FRS

"Analysts are catching up with reality, and this is a major change in valuations for companies," said Greg Taylor, chief investment officer at Purpose Investments.

According to data compiled by Bloomberg, Amazon's average earnings per share estimate for 2022 has fallen more than 50% in the past month. Alphabet's estimates fell 1.7% over the same period, while Apple, Microsoft and Meta Platforms' projections were virtually unchanged.

Even after the Nasdaq 100 fell 22% this year, some investors say tech stocks are still too expensive.

ECB tries to save EU economy - central bank will be flexible in reinvesting PEPP program

The pandemic has left persistent vulnerabilities in the eurozone economy that contribute to the uneven normalization of our monetary policy among different countries, the ECB said. The ECB has instructed Eurosystem committees and ECB services to accelerate the development of a new mechanism to combat fragmentation. Why it matters. Rising

Price for oil price cap yet to be determined, head of European Commission

"The EU is ready in principle to go to the oil price cap," von der Leyen added. Earlier, the head of the U.S. Treasury Yellen said that the U.S. is not against the purchase of oil by India above the price cap. The WSJ also reported citing sources

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

India and China - Russia's most important trading partners - will not participate, Bloomberg sources said. The price cap plan is still alive after all. However, the price cap will be higher than previously thought. Earlier, U.S. Treasury Secretary Yellen said the price ceiling could be in the range

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