Stocks hit 2020 lows as fears of recession build; investors batter sterling

Stocks hit 2020 lows as fears of recession build; investors batter sterling

Global equities hit 2-year lows U.S. benchmark yields top 4% for first time since 2010 Sterling drops as UK’s economic strategy comes under fire LONDON, Sept 28 (Reuters) – Global shares sank to two-year lows on Wednesday as surging borrowing costs and a worsening energy crisis intensified fears that the world could tip into recession, … Read more

IMF and Moody’s censure UK policy that sparked market turmoil

IMF and Moody’s censure UK policy that sparked market turmoil

IMF does ‘not recommend’ policies like UK growth plan Moody’s: economic plan is ‘growth negative’ Pound trading down 0.5% to $1.0681 Bond strategists warn market almost untradeable LONDON, Sept 28 (Reuters) – The International Monetary Fund and ratings agency Moody’s ramped up pressure on Britain to reverse a new economic strategy that was roiling financial … Read more

IMF criticises UK policy, Bank of England to make big response

IMF criticises UK policy, Bank of England to make big response

Proposals likely to increase inequality, IMF says BoE’s Pill says ‘significant’ response likely Economists, executives call for a policy U-turn Pound recovers slightly, up 0.4% on the day LONDON, Sept 27 (Reuters) – The International Monetary Fund openly criticised Britain’s new economic strategy on Tuesday, following another slide in bond markets that forced the Bank … Read more

Oil up 2% from multi-month low on U.S. Gulf output cuts, supply outlook

Oil up 2% from multi-month low on U.S. Gulf output cuts, supply outlook

BP, Chevron cut offshore oil production ahead of Hurricane Ian Iraq says OPEC monitoring prices, seeks market balance Coming up: API supply report at 4:30 p.m. EDT, 2030 GMT NEW YORK, Sept 27 (Reuters) – Oil rose more than $1 a barrel on Tuesday from a nine-month low a day earlier, supported by supply curbs … Read more

Wall St deep in bear market as S&P 500 hits new two-year low

Wall St deep in bear market as S&P 500 hits new two-year low

S&P 500 hits lowest since Nov. 2020 Rate-sensitive tech, growth stocks give back gains Energy stocks among rare gainers Indexes down: Dow 0.56%, S&P 0.48%, Nasdaq 0.20% Sept 27 (Reuters) – Wall Street’s main indexes sank deeper into a bear market on Tuesday as an early rally in stocks faltered after Federal Reserve policymakers advocated … Read more

Bank of England ‘will not hesitate’ to act as it monitors market turmoil

Bank of England ‘will not hesitate’ to act as it monitors market turmoil

Pound briefly touched a record low against dollar Five-year gilts match Friday’s record daily slump Yields on 2-year and 5-year debt up 100 bps in 2 days Finance minister to detail fiscal plans on Nov. 23 BoE monitoring developments ‘very closely’ LONDON, Sept 26 (Reuters) – The Bank of England said on Monday it would … Read more

Rampant dollar pauses for breath as bears stalk stocks

Rampant dollar pauses for breath as bears stalk stocks

Register now for FREE unlimited access to Reuters.com Register HONG KONG, Sept 27 (Reuters) – Asian markets attempted to stabilise on Tuesday after a wild few days during which most assets, barring the dollar, fell, with the greenback easing a bit and stocks flat. Sterling , which collapsed to a record low $1.0327 on Monday, … Read more

Oil prices fall for a second day on concerns for expected recession

Oil prices fall for a second day on concerns for expected recession

Model of Oil barrels are seen in front of rising stock graph in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register Sept 26 (Reuters) – Oil prices fell for a second day on Monday on fears of lower fuel demand from an expected global recession sparked by … Read more

London copper price hits two-month low on strong dollar

London copper price hits two-month low on strong dollar

A worker checks copper wires at Truong Phu cable factory in northern Hai Duong province, outside Hanoi, Vietnam August 11, 2017. REUTERS/Kham Register now for FREE unlimited access to Reuters.com Register Sept 26 (Reuters) – London copper prices hit a more than two-month low on Monday, as a stronger dollar made greenback-priced metals more expensive … Read more

Sterling collapses as investors fly into dollars

Sterling collapses as investors fly into dollars

Register now for FREE unlimited access to Reuters.com Register Sterling hits record low; risk of BOE response Euro down 1%; Aussie, kiwi, yuan hit multi year lows S&P 500 futures drop 0.6% SYDNEY, Sept 26 (Reuters) – Sterling slumped to a record low on Monday, prompting speculation of an emergency response from the Bank of … Read more