NEW YORK—Stocks are edging higher in early trading on Wall Street Tuesday, finding some stability a day after dropping into a bear market. A report showed that inflation at the wholesale level slowed unexpectedly last month, a rare bit of encouraging news about inflation, which has been slamming markets in recent days. The S&P 500…
Dollar Off Lows, Nears 20-year Highs After Historic Bond Rout
LONDON—The U.S. dollar trimmed early losses and held near a 20-year peak on Tuesday while its rivals from the Aussie to the euro struggled as traders braced for aggressive interest rate hikes from the Federal Reserve this week. Expectations for a 75 basis-point increase at the conclusion of a two-day meeting on Wednesday are nearly…
Oil Prices Rise as Tight Supply Counters China COVID-19, Recession Worries
LONDON—Oil prices rose on Tuesday as tight global supply outweighed worries that fuel demand would be hit by a possible recession and fresh COVID-19 curbs in China. Brent crude futures rose 94 cents, or 0.9 percent, to $123.21 a barrel at 1029 GMT, while U.S. West Texas Intermediate (WTI) crude rose 79 cents, or 0.7…
World Shares Wobbly After Wall Street Sinks Into Bear Market
TOKYO—Global stocks drifted lower Tuesday in the wake of Wall Street’s tumble into a bear market, as investors anxiously contemplated a new and uncertain world of higher interest rates, international conflict, and recession fears. Shares traded down in Europe, erasing brief gains after the markets opened, while Asian shares fell but later recovered some gains….
Global Nuclear Arsenal to Grow for First Time Since Cold War: Think-Tank
STOCKHOLM—The global nuclear arsenal is expected to grow in the coming years for the first time since the Cold War while the risk of such weapons being used is the greatest in decades, a leading conflict and armaments think-tank said on Monday. Russia’s invasion of Ukraine and Western support for Kyiv has heightened tensions among…
Dollar Drives Higher, Yen Tumbles to 1998 Lows
LONDON—The safe haven dollar gained towards fresh two-decade highs versus major rival currencies on Monday, supported by fears over a global economic slowdown and bets on steep interest rate hikes by the U.S. Federal Reserve. The yen was among a host of currencies swept lower on the day, to its lowest level versus the dollar…
Oil Falls on Beijing’s COVID-19 Warning, Inflation Worries
LONDON—Oil dropped about $2 a barrel on Monday as a flare-up in COVID-19 cases in Beijing dented hopes of a Chinese demand rebound, while worries about more interest rate hikes to control rampant inflation added further pressure. Beijing’s most populous district Chaoyang announced three rounds of mass testing to quell a COVID-19 outbreak that emerged…
World Stocks Near Fresh 2022 Lows on Inflation Fears
LONDON—World stocks fell towards fresh 2022 lows and the Japanese yen slid to levels not seen in nearly a quarter of a century on Monday as red-hot U.S. inflation fuelled worries about even more aggressive policy tightening in a big week for central banks. The substantially higher-than-expected U.S. CPI print on Friday was hard to…
Japanese Yen Jumps After Authorities Sound Intervention Warning
LONDON—The Japanese yen jumped on Friday after the government and the central bank in a rare joint statement expressed concern about its recent slide to hit two-decade lows, while the dollar edged higher ahead of key U.S. inflation data. After a meeting with his Bank of Japan (BOJ) counterpart, the country’s top currency diplomat Masato…
Oil Prices on Track for Weekly Gain Amid High US Demand
LONDON—Oil rose on Friday and was on track for another weekly gain supported by solid fuel demand in the United States, although fresh COVID-19 alerts in Shanghai and Beijing curbed gains. Brent crude was up 40 cents, or 0.3 percent, at $123.47 a barrel at 0934 GMT while U.S. West Texas Intermediate crude rose 30…
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