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.
InvestoRead More »
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 (APIRead More »
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 ofRead More »
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 stockRead More »
Monday, 12 December 2016 US President-elect Donald Trump, who has courted controversy by eschewing the traditional daily intelligence and national security briefings offered to presidents and presidents-elect, has said he doesn’t need them because he’s “a smart person.” “I get it when I need it,” Trump said in an interview …Read More »
WISH THE SANTA MONICA TRACK CLUB IN THE UNITED STATES (US) AS A TRAINING CAMP FOR ATHLETES SPRINT WERE DASHED.
National Sports Council (NSC) announced the location was not suitable for various reasons, including tracks that have not been updated. NSC Director General Datuk Ahmad Shapawi Ismail said the decision was made in the meeting of the Working Committee (CAC) after obtaining the opinion of the review Athletics Head Coach, …Read More »
Tuesday, 22 November 2016 JOHOR BAHRU: The state government believes United States (US) investors will consider various factors before making any decision to withdraw or reduce their investments in Johor. According to Johor Menteri Besar, Datuk Seri Mohamed Khaled Nordin, with Donald Trump as the new US president-elect, the state …Read More »
The United States’ election has prompted visiting American golfers to consider investing in New Zealand. Jim Rohrstaff, the American-born executive who manages real estate sales and memberships for the exclusive private members-only club Tara Iti 90 minutes north of Auckland, said the elections had resulted in some members considering purchasing …Read More »
Saturday, 27 August 2016 JACKSON HOLE, Wyo.: The Federal Reserve is getting closer to raising interest rates again, the head of the U.S. central bankand other policymakers said on Friday in comments that left the door open for a hike as early as next month. Fed Chair Janet Yellen …Read More »