Strait of Hormuz becomes new pressure point: US ramps up military presence, Europe seeks its own channel to Iran. Pressure on Magnificent Seven drags S&P 500 down: markets increasingly recall 2008.
The UK economy unexpectedly slowed in January, with GDP growth showing zero expansion and industrial output coming in below expectations. These figures contradict recently published business activity indices, which had indicated acceleration in the early months.
The Reserve Bank of Australia, following its March meeting, raised the interest rate by 25 basis points as expected. However, this decision was made by a narrow majority.
