LONDON—Oil prices dropped more than $2 a barrel on Tuesday, extending the previous day’s slide, as the collapse of Silicon Valley Bank rattled equities markets and sparked fear about a fresh financial crisis. Brent crude futures fell $1.64, or 2 percent, to $79.13 a barrel by 1001 GMT. U.S. West Texas Intermediate crude futures (WTI)…
Shares Tumble as Stress Creeps Into Markets
LONDON—Global shares slid on Tuesday as a brewing U.S. banking crisis prompted investors to downgrade their expectations for interest rate hikes, even ahead of key inflation data later in the day. As recently as a week ago, investors were just recovering from a reality-check that prompted many to assume that rates around the world were…
Dollar Drops as Fed Rate Hike Expectations Trimmed on SVB Collapse
SINGAPORE/LONDON—The U.S. dollar fell on Monday on expectations the Federal Reserve will be less aggressive in raising interest rates after authorities stepped in to limit the fallout from the sudden collapse of Silicon Valley Bank. The U.S. government announced several measures early in the Asian trading day, saying all SVB customers will have access to…
Crude Oil Prices Slide $4 as Banking Fears Rattle Markets
LONDON—Oil prices fell $4 on Monday along with equities as the collapse of Silicon Valley Bank raised fears of a fresh financial crisis, but a recovery in Chinese demand provided support. Brent crude futures were down $3.96, or 4.8 percent, to $78.82 per barrel by 1220 GMT. West Texas Intermediate U.S. crude futures (WTI) fell…
Europe’s Bank Shares Plunge, Bonds Rally Despite SVB Rescue Effort
LONDON, SYDNEY—Europe’s bank shares suffered their biggest fall in over a year and bond markets saw a gigantic repricing of rate hike bets on Monday as global efforts to limit the fallout from the collapse of Silicon Valley Bank (SVB) failed to ease fears. The dollar slid too as Wall Street heavyweights such as Goldman…
Dollar Steady as Volatile Markets Brace for Payroll Data, Yen Slides
SINGAPORE/LONDON—The dollar index was steady on Friday, a rare spot of calm in volatile global markets ahead of key U.S. payrolls data later in the day, while the yen weakened after the Bank of Japan kept stimulus settings steady. The dollar jumped as much as 0.63 percent against the yen, a knee-jerk move after the…
Oil Prices Set for 5 Percent Weekly Drop on US Rate Hike Jitters
LONDON—Oil fell for a fourth session on Friday, heading for its biggest weekly loss in five weeks on worries about the prospect of steep interest rate hikes in the United States hitting fuel demand. Brent dipped 41 cents, or 0.5 percent, to $81.18 a barrel by 0852 GMT. U.S. West Texas Intermediate crude (WTI) was…
Global Stocks, Wall Street Futures Sink Ahead of US Jobs Update
BEIJING—Global stock markets and Wall Street futures fell Friday ahead of a U.S. job market update amid unease about possible further interest rate hikes. Markets in London, Shanghai, Frankfurt, and Tokyo declined. Oil prices were lower. Wall Street’s benchmark S&P 500 index fell Thursday by its biggest one-day margin this year after Federal Reserve Chair…
Dollar Holds Near 3-month Highs on Rates Outlook
SINGAPORE/LONDON—The dollar held near a three-month high on Thursday, underpinned by Federal Reserve Chair Jerome Powell’s message that interest rates would have to go higher and possibly faster. The yuan weakened after the government reported unexpectedly low inflation. In the second day of his testimony to Congress on Wednesday, Powell reaffirmed his message, though he…
Oil Slips for 3rd Day as Recession Fears Mount
LONDON—Oil fell for a third day on Thursday as fears over the economic impact of rising interest rates offset a surprise drop in U.S. crude inventories and hopes for Chinese demand. U.S. Federal Reserve Chair Jerome Powell’s comments this week on the likelihood that interest rates will need to be raised more than previously expected…
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