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Follow on Google News | Brentwood Group, Japan – Global Equities Slide Despite Rate Cuts.‘Brentwood Group’ – Markets ignore central bank coordinated rate cuts.
By: Vincent Hall The decisive action came after the UK pledged up to £250 billion in support for its beleaguered banking system and the Federal Reserve’s commitment to enter the commercial paper market to support corporations seeking access to short-term funding. Despite the cuts by seven central banks, stocks on the DJIA, Nasdaq, S&P 500 and the FTSE drifted lower. Brentwood Group believes that recession fears have overshadowed the cuts. Traders at Brentwood Group reported that forced-selling was still being undertaken by hedge funds and banks keen to meet withdrawals of funds by savers and investors. End
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