Wall Street futures rise to kick off a new month

BANGKOK — US futures rose slightly on Monday morning as markets opened the month trying to shake off a miserable September marred by fears that the Federal Reserve’s aggressive interest rate hikes would take the US economy deeper. the US into a recession. Dow Jones Industrials futures rose 0.8% and S&P 500 gained 0.7%. September … Read more

‘The Fed is breaking things’: Here’s what has Wall Street on edge as risks mount around the world

Jerome Powell, Chairman of the US Federal Reserve, during a Fed Listens event in Washington, DC, USA, on Friday, September 23, 2022. To Drago | Mayor Bloomberg | fake images As the Federal Reserve ramps up efforts to rein in inflation, sending the dollar higher and bonds and stocks plummeting, concerns are mounting that the … Read more

Stocks close September down 9.3%, the worst month since March 2020

NEW YORK — Wall Street closed out a miserable Friday in September with the SThe worst monthly slide for the &P 500 since March 2020, when the coronavirus pandemic collapsed global markets. The benchmark index ended the month with a loss of 9.3% and recorded its third consecutive losing quarter. It is now at its … Read more

The ‘real cure’ for inflation has been ignored, says Steve Forbes

Sterling fell to a record low on Monday morning in Asia, following last week’s announcement by the new UK government that it would implement tax cuts and investment incentives to boost growth. By focusing on raising interest rates to cool inflation, central banks and governments have overlooked the importance of keeping currencies stable, said Steve … Read more

British Pound Hits All-Time Low Against Dollar as Asia-Pacific Currencies Weaken Too

Critics say such economic measures will disproportionately benefit the wealthy and could see the UK take on high levels of debt at a time of rising interest rates. “[It] It doesn’t look like the UK government is throwing a bone at the market here in terms of having a much more dovish fiscal path, so … Read more

Britain’s shake-up towards Reaganomics gets a thumbs up from markets

Truss has now set the country on an economic path completely at odds with most, if not all, of the major global economies. Hannah MacKay | Reuters LONDON — Britain’s new Prime Minister Liz Truss may have talked a lot about the “leakage economy” during her election campaign this summer, but no one could have … Read more

From the Fed to Europe’s currency crisis, here’s what’s behind this sell-off in financial markets

Trader on the floor of the NYSE, June 7, 2022. Source: NYSE Stocks fell sharply, bond yields rose and the dollar strengthened on Friday as investors heeded a signal from the Federal Reserve that its battle against inflation could result in much higher interest rates and a recession. Friday’s sell-off was global, in a week … Read more

Citi says sterling dollar peg possible as UK risks currency crisis

A trader, center, wears a Citigroup jacket as he works on the floor of the New York Stock Exchange. Michael Nagle | Mayor Bloomberg | fake images LONDON – The UK is at risk of a currency crisis that could see the pound sterling reach parity with the dollar, according to analysts at Citi. The … Read more

British Pound Plunges, Bonds Plunge After Tax Cut Announcement

The British pound hit its lowest level since July 1, 2020. Matt Cardy | fake images The embattled pound sterling fell 2.5% against the dollar on Friday, after the new UK government announced a sweeping economic plan in a bid to boost growth. Sterling had fallen as low as $1.0975 by 3:35pm London time, extending … Read more

Analysts discuss US interest rates, the dollar and the Asian financial crisis

The world economy may be facing conditions seen during the 1997 Asian financial crisis: aggressive US interest rate hikes and a strengthening US dollar. But history is unlikely to repeat itself, the analysts said, although they warn that some economies in the region are particularly vulnerable to currency devaluations reminiscent of the era. On Wednesday, … Read more