Tag Archives: Markets

The bank’s chief analyst expects the benchmark S&P 500 to slump sharply US stocks have soared to unsustainable highs and could crash 26% within months, Morgan Stanley’s top strategist has warned. In an analyst note the bank’s chief US equity strategist, Mike Wilson, said that the current level of stock …

Leading indices have sold off on high inflation, geopolitical tensions, and tightening monetary policy Major European stock indices struggled in 2022, with most showing their worst performance since before the Covid-19 pandemic, CNBC reported on Friday. The pan-European Stoxx 600 index began the last trading day of the year down …

The Russian rouble strengthened on Monday, firming past 77 against the euro to a near two-year high, helped by tax payments that companies are due to make this week and as the market looked ahead to a central bank rate decision on Friday. By 1453 GMT, the rouble had gained …

Russian President Vladimir Putin held extensive talks with his Chinese counterpart, Xi Jinping, earlier this week, with the two world leaders agreeing on plans to establish a new shared international financial framework. China and Russia have been gradually moving towards such an arrangement since the Global Financial Crisis of 2008 …

Global stock benchmarks and oil prices fell on Friday while safe havens such as the dollar and Treasury bonds rose as investors wrestled with a hawkish turn from major central banks in the fight against inflation and rising numbers of Omicron cases. Asian shares closed near lows for the year …

Financial markets fell sharply on Tuesday after the head of drugmaker Moderna said existing COVID-19 vaccines would be less effective against the new Omicron variant, but they recovered strongly after more reassuring comments from European officials. European Medicines Agency executive director Emer Cooke told the European Parliament that existing vaccines …

Global stocks tumbled on Friday and oil fell below $80 a barrel after news of a possibly vaccine-resistant coronavirus variant sent investors scurrying to the safety of bonds, the yen, and the Swiss franc. Little is known of the variant, detected in South Africa, Botswana, and Hong Kong, but scientists …

With new regulations aiming at countering money laundering in force, the Central Bank of Iraq (CBI) auctioned $52 million only in foreign currency today, Sunday. Alghadeer News correspondent said that CBI’s sales of foreign currency in today’s auction amounted to $52,070,000, down by 74.76% compared to Wednesday’s $206,422,600. Our correspondent …

Positive clinical trial results for Merck & Co’s (MRK.N) experimental antiviral COVID-19 pill reverberated through the healthcare sector on Friday, sending the drugmaker’s stock price soaring while denting high-flying shares of vaccine companies and makers of other coronavirus therapies. Merck shares jumped as much as 12.3% and hit their highest …

Global shares slid on Monday after a raft of Chinese economic indicators showed a surprisingly sharp slowdown in the engine of global growth, just as much of the world race to stem the spread of the Delta variant of COVID-19 with vaccinations. A 10-day run of gains for European stocks …

Digital tokens took a hit on Friday as a growing list of central bankers expressed concerns about their usefulness. Bitcoin slumped 7% to near $35,500, recalling levels seen in the crypto meltdown last week as traders brace for fresh volatility over the long weekend. Prices across digital tokens took a …

Bitcoin dipped 11.33% to $33,250 at 16:00 GMT on Sunday, losing $4,248.98 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is down 48% from the year’s high of $64,895.22 on April 14. Ether, the coin linked to the ethereum blockchain network, dropped 16.59 % to $1,915.34 on …

Japan was hit by its biggest economic slump on record in the second quarter as the coronavirus pandemic emptied shopping malls and crushed demand for cars and other exports, bolstering the case for bolder policy action to prevent a deeper recession. The third straight quarter of declines knocked the size …

A sharp escalation in tensions with the United States has stoked fears in China of a deepening financial war that could result in it being shut out of the global dollar system – a devastating prospect once considered far-fetched but now not impossible. Chinese officials and economists have in recent …

Global shares skidded further from five-month peaks on Friday as a bounce-back in European business activity did little to ease the jitters surrounding Sino-U.S. tensions, while gold approached a record high. The mood darkened after Beijing ordered the United States to close its consulate in Chengdu, in retaliation for being …

Markets showed signs of optimism on Friday, with European shares opening higher and oil prices rising despite a record number of new COVID-19 infections in the United States. They rose across the U.S. by at least 39,818 on Thursday, the largest one-day increase of the pandemic. The governor of Texas …

The dollar paused on Wednesday after two straight days of losses, as money markets tempered hopes of a rapid global economic recovery from the coronavirus pandemic. The U.S. currency was broadly flat against a basket of currencies, after earlier gains of 0.3%, as risk sentiment soured in trading in Europe. …

Oil rose to above $42 a barrel on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet supply cuts and signs of demand, hit by the coronavirus crisis, recovering. Iraq and Kazakhstan, during a meeting of an OPEC+ panel on Thursday, pledged to …

While the coronavirus pandemic may become the last nail in the coffin of the US dollar’s status as the primary reserve currency, the seeds of its inevitable decline were sown long ago, a former Morgan Stanley economist believes. The greenback is set to decline due to a shortfall in domestic …

Global stocks fell sharply Monday as the United States and China grapple with new coronavirus outbreaks, signaling that the pandemic isn’t done wreaking havoc on the global economy. Dow (INDU) futures were down more than 450 points, or 1.9%, ahead of the opening bell after plunging as much as 800 …