Global Markets Slide as Central Banks Ramp Up Inflation Fight

Global markets experienced a decline on Friday as central banks continued to raise interest rates in an effort to combat inflation. The move came as a response to the ongoing war in the Middle East, which has kept oil prices above $100 per barrel and fueled concerns about inflation.

The Dow Jones Industrial Average fell 0.4%, while the S&P 500 dropped 0.2% and the Nasdaq Composite declined 0.1%. Stocks in Europe also fell by 1.1%

The Bank of Japan raised interest rates to a 31-year high of 1.25%, with two board members dissenting from the decision. The move led to a decline in the value of the Japanese yen against the US dollar, which rose 0.6%.