How the Fed crushed the luxury watch boom
Pananalapi Paano dinurog ng Fed ang boom ng marangyang relo 10 minuto ang nakalipas Balita ng Ethereum ng Bitcoin The secondary market for luxury watches has sunk to its lowest level in over two years. The WatchCharts market index and has slumped 32% from an all-time high in March last year. Elevated interest rates and heightened economic uncertainties are seen as sapping demand for luxury timepieces. Since late 2022, Wall Street has been rife with predictions for the Federal Reserves interest-rate increases to wreak havoc in the US economy and stock market. But while the broader economy has held up surprisingly well, the monetary blitzkrieg has sparked a downturn of a different kind – a rout in the secondary market for luxury watches. The WatchCharts Overall Market Index – which tracks the prices of 60 timepieces from top brands including Rolex, Patek Philippe and Audemars Piguet – has plunged 32% from a March 2022 peak. A separate index for just Rolex models fell 27% over a similar period. The US central banks aggressive monetary tightening over the past five quarters is seen as a key reason for the slump in watch prices. Higher interest rates have fueled fears of an economic downturn, spurring investors to scale back luxury spending and