Tag Archives: US$

NEW YORK: Wall Street fell in a broad sell-off on Monday, with the S&P 500 and Nasdaq suffering their biggest daily percentage drops since May, as fear of contagion from potential collapse of China's Evergrande drove investors out of equities in a flight for safety.

The Nasdaq also hit its lowest level in about a month, but indexes pared losses just before the close to end well off their lows of the session. The Nasdaq was down more than 3% during the day.

Microsoft Corp, Alphabet Inc, Amazon.com Inc, Apple Inc, Facebook Inc and Tesla Inc were among the biggest drags on the Nasdaq and the S&P 500.

All 11 major S&P 500 sectors were lower, with economically sensitive groups like energy, which fell 3%, down the most. Defensive sectors including utilities were down the least.

Investo

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NEW YORK: World shares fell on Friday after a week of mixed economic data and fears over the stability of growth and Asian markets put the focus on the U.S. Federal Reserve's timeline for tapering asset purchases.

U.S. stocks ended sharply lower in a broad sell-off on Friday. All three major U.S. stock indexes lost ground, with the Nasdaq Composite Index weighed down as rising U.S. Treasury yields pressured market-leading growth stocks.

The 10-year U.S. Treasury note yield briefly touched 1.3855%, its highest level since July 14, while the dollar hit a three-week high.

MSCI's gauge of Read More »

WASHINGTON: U.S. Democratic lawmakers on Thursday asked the chiefs of four major fossil fuel companies and two lobbying groups to testify next month on whether the industry led an effort to mislead the public and prevent action to fight climate change.

House Oversight Committee Chairwoman Carolyn Maloney and Ro Khanna, chairman of the Subcommittee on Environment, sent letters to the chief executives of Exxon Mobil Corp, Chevron Corp, BP USA, and Royal Dutch Shell Oil Co, asking them to appear before a hearing on Oct. 28 and provide emails and documents.

They also sent the requests, first reported by the New York Times, to the heads of two lobbying groups: the American Petroleum Institute (API

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WASHINGTON: Federal Reserve Chair Jerome Powell has ordered a sweeping review of the ethics rules governing financial holdings and dealings by senior officials at the U.S. central bank, a Fed spokesperson said on Thursday.

Powell ordered the review late last week, the spokesperson said in an emailed statement, following recent reports that two of the Fed system's 12 regional reserve bank presidents had been active investors during 2020, a notably volatile year for asset prices as the country battled the COVID-19 pandemic.

Those revelations, originally reported by the Wall Street Journal, prompted senior U.S. lawmakers - including Senator Elizabeth Warren of Massachusetts - to demand more stringent restrictions on such activities.

"Because the trust of

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NEW YORK: Global share markets edged lower globally on Thursday as concerns about investments in China and a mixed day on Wall Street outweighed positive economic data in the United States.

The three major indexes spent much of the day in negative territory as rising U.S. Treasury yields pressured market-leading tech stocks, and the rising dollar weighed on exporters.

International investors who have been piling into China in recent years are now bracing for one of its great falls as the troubles of over-indebted property giant China Evergrande come to a head.

Dwindling resources set against 2 trillion yuan ($305 billion) of liabilities have wiped nearly 80% off the developer's stock

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