US stocks slump as economic concerns mount; DJIA falls 1,000 points
U.S. stocks fell sharply Monday amid growing concerns over an economic slowdown, with technology stocks hit particularly hard. At 09:40 ET (13:40 GMT), the Dow Jones Industrial Average fell 1,070 points, or 2.7%, the S&P 500 dropped 188 points, or 3.5%, and the NASDAQ Composite slumped 810 points, or 4.8%. Slowdown fears batter…
Asian stocks: Japan tumbles as BOJ vows more rate hikes, China rebound stalls
Most Asian stocks were muted on Thursday as Japanese shares plummeted after the Bank of Japan flagged more interest rate hikes, while a rebound in Chinese markets stalled on more underwhelming business activity data. Regional markets took little support from an overnight rally on Wall Street, where signals on a September interest rate…
Democrats to hold Aug. 1-5 virtual vote on Harris presidential pick
Delegates to the Democratic National Convention will hold an Aug. 1-5 virtual vote to formally pick Vice President Kamala Harris as the party’s nominee for president in a Nov. 5 election, the Democratic National Committee (DNC) said on Tuesday. Harris was the only candidate to qualify for the Democratic presidential ballot, DNC leaders…
US accuses Venezuela of election manipulation, leaves door open to sanctions
The Biden administration said on Monday that electoral manipulation had stripped Venezuelan President Nicolas Maduro’s claim of reelection victory of “any credibility,” and Washington left the door open to fresh sanctions on the OPEC nation. Senior U.S. officials, briefing reporters on Sunday’s election, sharpened Washington’s response to the disputed vote, in which Venezuela’s…
Yen eases as Nikkei jumps, central bank meetings loom
The yen ticked lower on Monday after a week when it surged to its strongest in 12 weeks against the dollar, as a recovery in equity markets sapped demand for the currency as a safe haven. A flush out of long-held short yen positions also appeared to have run its course by the…
Singapore’s central bank keeps policy unchanged, as expected
SINGAPORE (Reuters) -Singapore’s central bank on Friday left its monetary policy settings unchanged for the fifth consecutive time, as expected, as growth picks up and ahead of an expected year-end moderation in inflation.The Monetary Authority of Singapore (MAS) said it expects the economy to strengthen over the rest of 2024, with growth coming…
China central bank unexpectedly conducts medium-term loan operation, cuts interest rate
China’s central bank unexpectedly conducted a medium-term lending facility (MLF) operation on Thursday and cut the interest rate, following a string of other rate reductions earlier this week. The People’s Bank of China (PBOC) said it lowered the rate on 200 billion yuan ($27.5 billion) of one-year MLF loans to some financial institutions…
US stock futures drop as Alphabet, Tesla earnings underwhelm
U.S. stock index futures fell in evening deals on Tuesday, with technology stocks seeing renewed weakness after underwhelming second-quarter earnings from heavyweights Alphabet and Tesla. Major tech stocks declined in aftermarket trade, with the earnings setting a dour tone for more quarterly prints due in the coming days. Losses in technology stocks also…
US stock futures dip after tech rebound; Alphabet, Tesla earnings loom
U.S. stock index futures fell slightly in evening deals on Monday, steadying after a sharp rebound on Wall Street as investors returned to technology stocks ahead of key earnings from the sector. Wall Street indexes were still trading well below record highs hit last week, as a mix of profit-taking and rotation into…
Joe Biden drops out of race, endorses Kamala Harris
As was widely anticipated, U.S. President Joe Biden has stepped down from the 2024 Presidential election. This follows weeks of supporters turning their backs on him amid his dismal debate performance against former President and Republican nominee Donald Trump. Biden has thrown his support behind Vice President Kamala Harris. “My fellow Democrats, I have decided not…
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