ECON

Pound jumps after UK tax cut rescinded, oil climbs higher

Pound jumps after UK tax cut rescinded, oil climbs higher

TOKYO, Oct 3 (Reuters) – Oil surged on Monday as OPEC+ considered cutting output at its meeting later this week, while the pound appreciated after the British government announced it would would undo a controversial tax cut that had rocked UK markets. Asian stocks mostly fell over the holidays, although Japanese markets found support from …

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China's factory and services surveys suggest the economy is struggling to rebound

China’s factory and services surveys suggest the economy is struggling to rebound

China’s official September manufacturing PMI above forecast Private survey shows factory activity has contracted sharply Growth in services sector activity slowed in September – official survey COVID curbs, easing foreign demand, weak real estate weigh BEIJING, Sept 30 (Reuters) – China’s manufacturing activity slowed growth in September, but slowing service sector growth and a pessimistic …

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Bank of England moves to calm bond market rout after tax cut storm

Bank of England moves to calm bond market rout after tax cut storm

BoE starts buying bonds, delays gilt sales IMF ‘does not recommend’ policies like UK growth plan Fin min Kwarteng and PM Truss criticized for their politics The British Pound is trading down 0.7% at $1.065 Kwarteng meets bank bosses again LONDON, Sept 28 (Reuters) – The Bank of England sought to quell the firestorm in …

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S&P 500 falls to two-year low, bear market rally dies out

S&P 500 falls to two-year low, bear market rally dies out

Sep 27 (Reuters) – The S&P 500 (.SPX) fell to its lowest level in nearly two years on Tuesday on concerns over the Federal Reserve’s super-aggressive policy tightening, trading below its June low and letting investors gauge how many more shares would need to fall before leveling off. Stocks have been under pressure since late …

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Global stocks break November 2020 lows, sterling regains ground

Global stocks break November 2020 lows, sterling regains ground

Join now for FREE unlimited access to Reuters.com Register The dollar has eased since its 20-year highs reached on Monday German 10-year bond yields hit near 11-year highs Oil rebounds from Monday’s nine-month lows LONDON/HONG KONG, Sept 27 (Reuters) – Global stocks rebounded on Tuesday after hitting 21-month lows and the pound rebounded from record …

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Fed officials eye markets down, say inflation is priority

Fed officials eye markets down, say inflation is priority

Join now for FREE unlimited access to Reuters.com Register WASHINGTON, Sept 26 (Reuters) – U.S. Federal Reserve officials on Monday put an end to rising volatility in global markets, from falling U.S. stocks to currency turmoil overseas, and said their priority remained control. domestic inflation. “There are interactions there,” said Cleveland Fed President Loretta Mester, …

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Stocks fall, dollar soars and bonds plunge as fears of recession grow

Stocks fall, dollar soars and bonds plunge as fears of recession grow

Dow ready to confirm its bear market MSCI All-World Index at 2-year low The dollar hits a new high in two decades Pound, gilts sell off after UK ‘mini-budget’ NEW YORK/LONDON, Sept 23 (Reuters) – U.S. and European stocks fell on Friday, the dollar hit a 22-year high and bonds sold off again as fears …

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Wall Street ends down for third day as growth worries weigh on tech

Wall Street ends down for third day as growth worries weigh on tech

Join now for FREE unlimited access to Reuters.com Register Tech stocks down after latest Fed rate move Investors are concerned about the possibility of a recession Darden Restaurants falls on disappointing quarterly sales JetBlue posts lowest close since March 2020 Indices down: Dow 0.35%, S&P 0.84%, Nasdaq 1.37% Sept 22 (Reuters) – Wall Street’s major …

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Japan intervenes in the foreign exchange market to stem the fall of the yen after the BOJ keeps rates extremely low

Japan intervenes in the foreign exchange market to stem the fall of the yen after the BOJ keeps rates extremely low

BOJ maintains ultra-low rates and dovish policy guidance Japanese diplomat FX said it had taken ‘decisive’ action Confirmation of the intervention causes the dollar to fall by more than 2% Analysts doubt Tokyo can continue to support the yen Bank of Canada says it didn’t help BOJ TOKYO, Sept 22 (Reuters) – Japan intervened in …

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Dollar hits two-decade high as Putin shakes up FX market ahead of Fed

Dollar hits two-decade high as Putin shakes up FX market ahead of Fed

Join now for FREE unlimited access to Reuters.com Register Dollar index hits two-decade high The euro drops to its lowest level in two decades Putin announces partial troop mobilization for Ukraine Markets assess Fed hawkishness in Powell briefing LONDON/NEW YORK, Sept 21 (Reuters) – The dollar hit a new two-decade high on Wednesday just ahead …

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