Volkswagen Surge Amid Global Rate Fears | Bermuda News

European markets ended the week down 0.8% amid Middle East tensions driving oil prices up and inflation fears, but a late rally led by Volkswagen—up nearly 6% on a major turnaround plan—offered some relief. The U.S. strong jobs report added pressure, hinting at another Fed rate hike and heightening global market strain as Europe grapples with sluggish growth and soaring energy costs. Still, VW’s rebound lifted spirits despite its 22% annual decline. Eyes now turn to the ECB’s upcoming meeting, where a likely quarter-point hike—and possibly another in December—will be watched closely as inflation remains stubbornly high. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/b6db79752685c503