LONDON—Record-high inflation in the eurozone compounded recession fears stalking markets on Wednesday as central banks on both sides of the Atlantic prepared to raise borrowing costs for businesses and households again next month. Wall Street was set for a muted start as U.S. crude oil prices sank for a second day, trading below $90 a…
Interest Rate and Recession Fears Knock Stocks and Oil
August 31, 2022
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How Major US Stock Indexes Fared Tuesday Aug. 30, 2022
Stocks fell again on Wall Street, posting their third loss in a row as traders worry that high interest rates are here to stay for a while. The S&P 500 fell 1.1 percent Tuesday, bringing its loss in the past three days to 5.1 percent. The Dow Jones Industrial Average and the Nasdaq also fell….
Wall Street Opens Higher After Jackson Hole Shock, Data Eyed
Wall Street’s main indexes opened higher on Tuesday after two sessions of losses on fears of aggressive policy tightening by the Federal Reserve, with investors looking ahead to data on consumer confidence and job openings later in the day. The Dow Jones Industrial Average rose 64.85 points, or 0.20 percent, at the open to 32,163.84….
ECB Bets Boost Euro, Dollar Slips From 20 Year Peak
August 30, 2022
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HONG KONG—The euro climbed past parity against a softening dollar on Tuesday, thanks to lower energy prices and the possibility of a super-sized European Central Bank rate hike. The European common currency was 0.41 percent higher at $1.00390, extending the previous day’s rally, albeit from near 20-year lows. “It’s about the ECB being priced far…
Oil Tumbles on Inflation Woes, Iraq Exports
August 30, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsOilrecessionstocks
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LONDON—Oil prices fell Tuesday on fears that an inflation-induced weakening of global economies would soften fuel demand, and as Iraqi crude exports have been unaffected by clashes. Brent crude futures for October settlement fell $2.45, or 2.33 percent, to $102.64 a barrel by 1022 GMT, after climbing 4.1 percent on Monday, the biggest increase in…
Shares Tiptoe Higher Amid Hiatus in Bad News
August 30, 2022
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Business & Marketseconomic policieseconomyenergyglobalGold and CommoditiesinflationMarketsrecessionstocks
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HONG KONG/LONDON—Shares crept up slightly and bonds held steady on Tuesday as investors awaited the next round of likely gloomy inflation data while also juggling concerns about Europe’s energy crisis, a looming recession, and more rate hikes. The pan-European STOXX index rose nearly 1 percent, led by bank shares as lenders were lifted by increased…
Wall Street Closes Lower, Adding to Last Week’s Losses
Stocks closed broadly lower on Wall Street Monday, adding to their hefty losses from last week when the Federal Reserve pledged to keep interest rates high as long as it takes to tame inflation. The S&P 500 fell 0.7 percent after wavering between small gains and losses. The Dow Jones Industrial Average fell 0.6 percent…
How Major US Stock Indexes Fared Monday Aug. 29, 2022
Stocks closed lower on Wall Street, adding to their recent losses as traders realized how determined the Federal Reserve is to keep interest rates high to fight inflation. The S&P 500 gave back almost 1 percent Monday. Technology companies were the biggest drag on the index. The Nasdaq and the Dow Jones Industrial Average also…
Tech Stocks Drag Wall Street Lower at Open on Rate Worries
Wall Street’s main indexes opened lower on Monday, led by technology stocks, as investors worried about the Federal Reserve’s plan to keep raising interest rates in its fight against inflation even at the cost of an economic slowdown. The Dow Jones Industrial Average fell 95.40 points, or 0.30 percent, at the open to 32,188.00. The…
Dollar Zooms Higher as Markets Brace for Higher for Longer Rates
August 29, 2022
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LONDON—The dollar shot higher on Monday, briefly scaling fresh 20-year highs against a basket of other currencies, as Federal Reserve Chair Jerome Powell signaled interest rates would be kept higher for longer to bring down uncomfortably high inflation. The dollar index, which measures the currency’s value against a basket of peers, scaled a fresh two-decade…
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