Wall Street’s main indexes opened lower on Friday, heading toward June lows, as investors fretted over the prospect of an economic downturn and a hit to corporate earnings from the U.S. Federal Reserve’s aggressive monetary policy tightening to quell inflation. The Dow Jones Industrial Average fell 121.03 points, or 0.40 percent, at the open to…
Yen Buoyant After Intervention, Dollar Powers Ahead
SINGAPORE—The yen was heading on Friday to its first weekly gain in more than a month after Japanese authorities intervened in markets to support the yen for the first time since 1998, while a towering dollar kept other currencies pinned near multi-year lows. The yen was up about 0.1 percent at 142.22 per dollar in…
Oil Prices Down 3 Percent With Recession Fears in Focus
September 23, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices fell on Friday as demand fears were stoked by rising interest rates and a stronger dollar, though losses were capped by Moscow’s mobilization campaign in its war with Ukraine and apparent deadlock in talks on reviving the Iran nuclear deal. Brent crude futures fell $2.81, or 3.11 percent, to $87.65 a barrel by…
Global Stocks Slide for 3rd Day on Economic Growth Fears
September 23, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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BEIJING—Global stocks fell for a third day Friday after more rate hikes by the Federal Reserve and other central banks to control persistent inflation spurred fears of a possible global recession. London and Frankfurt opened lower. Shanghai, Hong Kong, and Seoul declined. Oil prices fell by more than $1 per barrel. Japanese markets were closed…
Wall Street Ends Lower as Global Central Banks Raise Rates
Stocks fell again Thursday, deepening Wall Street’s losses for the week, as central banks around the world hiked interest rates to fight inflation. The S&P 500 fell 0.8 percent, its third straight drop. The benchmark index is down about 3 percent so far this week. The Dow Jones Industrial Average fell 0.4 percent and the…
How major US stock indexes fared Thursday Sept. 22, 2022
Stocks closed lower on Wall Street, deepening their losses for the week, as central banks around the world raised interest rates to fight inflation. The S&P 500 fell 0.8 percent Thursday. The Dow Jones Industrial Average fell about half as much, and the Nasdaq composite lost 1.4 percent. Central banks in Europe and Asia increased…
The Fed Just Predicted a Fairly Lousy Economy—and the Markets Noticed
September 22, 2022
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Business & MarketsBusiness Columnistsdot ploteconomic policieseconomyFederal ReserveGDPinflationinterest ratesMarketsPolicies & ImpactsstocksU.S. dollarUS
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Commentary The Federal Reserve (Fed) announced on Sept. 21 that it raised interest rates by 75 basis points (bps), or three-quarters of a percentage point. The decision came a day after the Federal Reserve Bank of Atlanta dropped its much-watched estimate of third-quarter 2022 GDP (“GDP Now“) to just 0.3 percent on Sept. 20, after…
Wall Street Mixed at Open After Fed-Driven Selloff
Wall Street’s main indexes opened mixed on Thursday as investors assessed the impact of the U.S. Federal Reserve’s fight against inflation on economic growth. The Dow Jones Industrial Average rose 20.7 points, or 0.07 percent, at the open to 30,204.52. The S&P 500 fell 7.6 points, or 0.20 percent, at the open to 3782.36, while…
Yen Strengthens After Japan Intervenes for First Time Since 1998
LONDON—The Japanese yen strengthened on Thursday after authorities intervened in the foreign exchange market to shore up the battered currency for the first time since 1998, although trading was choppy. The dollar was last down 1.17 percent at 142.42 yen. It hit a low of 140.31 after the intervention, having earlier reached a fresh 24-year…
Oil Rises on Geopolitical Risks
September 22, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil rose on Thursday as the prospect of heightened geopolitical risks outweighed recession fears after a flurry of central bank interest rate hikes, including from the Bank of England. Brent crude futures were up 70 cents, or 0.78 percent, to $90.53 per barrel by 1054 GMT, while U.S. West Texas Intermediate (WTI) crude was up…
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