Door slams on Fed ‘put’ as market pain takes back seat to inflation fight

Door slams on Fed ‘put’ as market pain takes back seat to inflation fight

WASHINGTON, Sept 28 (Reuters) – In the month since Federal Reserve Chair Jerome Powell laid down a hard line on inflation, stocks have suffered double-digit losses, chasms have opened in global currency markets, and yields on the safest US government debt have surged to their highest levels since the dark days of the financial crisis … Read more

Bank of England seeks to stem bond market turmoil after tax cut storm

BoE starts buying bonds, delays gilt sales IMF does ‘not recommend’ policies like UK growth plan Moody’s: economic plan is ‘growth negative’ Pound trading down 0.7% to $1,065 Kwarteng meets banking bosses again LONDON, Sept 28 (Reuters) – The Bank of England sought to quell a fire-storm in Britain’s bond markets, saying it would buy … Read more

Growth stocks lead bounce on Wall Street after brutal selloff

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S. September 26, 2022. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com register Major indexes set to snap five-day losing streak Rate-sensitive tech, growth stocks shine Sharp rebound in oil prices boost energy firms Indexes up: Dow … Read more

Fed officials stare down markets, say inflation is top focus

Register now for FREE unlimited access to Reuters.com register WASHINGTON, Sept 26 (Reuters) – US Federal Reserve officials on Monday sloughed off rising volatility in global markets, from slumping US stocks to currency turbulence abroad, and said their priority remained controlling domestic inflation. “There are interactions there,” Cleveland Fed President Loretta Mester said, noting that … Read more

Cryptoverse: Bitcoin miners get stuck in a bear pit

A bitcoin representation is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier Register now for FREE unlimited access to Reuters.com register Sept 27 (Reuters) – Spare a thought for the beleaguered bitcoin miner. In late 2021, miners were the toast of the town with … Read more

Rampant dollar pauses for breath as bears stalk stocks

Register now for FREE unlimited access to Reuters.com register HONG KONG, Sept 27 (Reuters) – Asian markets attempted to stabilize on Tuesday after a wild few days during which most assets, barring the dollar, fell, with the greenback easing a bit and stocks flat. Sterling , which collapsed to a record low $1.0327 on Monday, … Read more

Wall Street ends lower, Dow confirms bear market

Register now for FREE unlimited access to Reuters.com register Fed rate hikes have investors ‘throwing in the towel’ Casinos jump as Macau allows tour groups after nearly 3 years Indexes: Dow -1.11%, S&P 500 -1.03%, Nasdaq -0.60% Sept 26 (Reuters) – Wall Street slid deeper into a bear market on Monday, with the S&P 500 … Read more

Bank of England ‘will not hesitate’ to act as it monitors market turmoil

Pound briefly touched a record low against dollar Five-year gilts match Friday’s record daily slump Yields on 2-year and 5-year debt up 100 bps in 2 days Finance minister to detail fiscal plans on Nov. 23 BoE monitoring developments ‘very closely’ LONDON, Sept 26 (Reuters) – The Bank of England said on Monday it would … Read more

Oil prices fall for a second day on concerns for expected recession

Model of Oil barrels are seen in front of rising stock graph in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com register Sept 26 (Reuters) – Oil prices fell for a second day on Monday on fears of lower fuel demand from an expected global recession sparked by … Read more

Sterling crumbles to record low, dollar soars on UK fiscal angst

Woman holds British pound banknotes in this illustration taken May 30, 2022. REUTERS/Dado Ruvic/Illustration/ Register now for FREE unlimited access to Reuters.com register TOKYO, Sept 26 (Reuters) – Sterling tumbled to a record trough on Monday as traders scampered for the exits on speculation the new government’s economic plan will stretch Britain’s finances to the … Read more