The Hang Seng Tech Index fell 2.51%. Stocks ended lower. Dow Jones Industrial Average lost 0.11% after a four-day winning streak. The report on U.S. inflation erased earlier gains. Australia's unemployment rate is expected to increase further in March
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Export prices dropped by 6.4% in February after a 2.7% drop the previous month. Government data revealed that import prices fell by 6.9% in march, a steeper decline than the 0.5% decline seen in February. Morgan Stanley Investment Management's senior portfolio manager identifies stocks to avoid and buy in times of market uncertainty.
He pointed out the still elevated inflation in housing and services. Warren Buffett, Berkshire Hathaway's Chairman and CEO, said that he didn't believe he could manage the Federal Reserve better than Jerome Powell. "It does not mean that you are able to stop recessions or turn bad loans into better loans. It does mean, however, that the system must continue to function. Fred Imbert