Shipping Stocks Dive As Stagflation Fears Hit Market; Zim Triggers This Sell Rule - BitcoinEthereumNews.com
KabuhayanAng mga Stock sa Pagpapadala ay Sumisid Habang Tumama ang Stagflation Fears sa Market; Pina-trigger ni Zim ang Sell Rule na ito06 / 08 / 2022Balita ng Ethereum ng Bitcoin Shipping stocks were under pressure Wednesday as global stagflation worries appeared to hit the industry. On Wednesday, the Organization for Economic Cooperation and Development cut its global growth estimates to 3% in 2022, down from its 4.5% estimate. On Tuesday, the World Bank slashed its 2022 GDP forecast from 4.1% to 2.9%. Also Tuesday, Treasury Secretary Janet Yellen said the U.S. economy is likely facing a prolonged period of high inflation. Some of the groups stocks may be falling on news that Russia-Turkey talks ended without a significant breakthrough toward creating a pathway to export grain from Ukraine across the Black Sea. Today, the shipping industry group tumbled more than 8%. Its sell-off marked a bearish day for an industry group that had climbed to No. 10 out of 197 groups and included a few of those companies in the IBD 50. Gintong Karagatan (GOGL) slid 7.7%. Matson (MATX) bumagsak ng 11.7%. Mga Star Bulk Carriers (SBLK) dropped 10.7%. And Zim Integrated Shipping (ZIM) dived 14.7%. All four shipping stock saw big volume, indicating institutional selling. Zim