Global stocks fall as central bank reassurances fail to ease virus fears
4 years, 10 months ago

Global stocks fall as central bank reassurances fail to ease virus fears

CNN  

New York / Hong Kong CNN Business — US stock futures and markets in Europe fell Monday despite reassurances from the world’s central banks that they stand ready to help limit the economic and financial damage caused by the novel coronavirus outbreak. The losses follow a brief respite for stocks in Asia, which rebounded after Bank of Japan Governor Haruhiko Kuroda promised that the country’s central bank would provide “ample liquidity” to ensure stability in financial markets. The world’s central banks may take even more dramatic actions, according to Bill Nelson, executive vice president and chief economist at the Bank Policy Institute. In a note this weekend, he predicted a “coordinated easing across the major central banks,” possibly including the People’s Bank of China and the Hong Kong Monetary Authority, as early as this week.

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Stock markets crash nearly 3% amid global equity rout, investors lose ₹15 lakh crore in single day
5 months ago

Stock markets crash nearly 3% amid global equity rout, investors lose ₹15 lakh crore in single day

The Hindu  

Stock markets crashed nearly 3% on August 5 due to across-the-board selling in banking, IT, metal and oil & gas shares following a global equity rout, wiping out more than ₹15 lakh crore of investor money in a single day. Investors lost more than ₹15 lakh crore in the market crash as the total valuation of BSE-listed companies dropped to …

Why global financial markets are walking a tightrope
1 year, 2 months ago

Why global financial markets are walking a tightrope

ABC  

If the past few months are anything to go by, the era of dependable double digit super returns may be drawing to a close. Longer term, they have upended trading patterns and drawn the curtain on almost three decades of global trade liberalisation, ushering in a new Cold War that's threatening to turn hot. That's left money managers dazed and …

When Is a Global Economic Meltdown Expected? Five Financial Experts Lay It Down
1 year, 9 months ago

When Is a Global Economic Meltdown Expected? Five Financial Experts Lay It Down

The Quint  

Silicon Valley Bank failure, and the massive contagion it sparked, look like a classic banking run. The response from the US Treasury and the US Federal Reserve—which applied nineteenth-century British economist Walter Bagehot’s principle that, to stem panic, a lender of last resort is needed—also looks quite familiar. First, in 2008, the worry about collapse was so intense that a …

US, global markets fall on banking turmoil: Report
1 year, 9 months ago

US, global markets fall on banking turmoil: Report

Hindustan Times  

Shares on Wall Street tumbled in premarket trading Friday as worries flared over turmoil in the banking sector and potentially worsening risks of recession. A sign for a Wall Street building is shown, Futures for the Dow Jones Industrial Average slid 1% before the bell and the benchmark S&P 500 fell 0.8%. Regional banks' shares in Asia were modestly lower …

$465 bn loss in 2 days: SVB crisis-led bloodbath across global financial stocks
1 year, 9 months ago

$465 bn loss in 2 days: SVB crisis-led bloodbath across global financial stocks

Live Mint  

Global financial stocks have lost $465 billion in market value in two days as investors cut exposure to lenders from New York to Japan in the wake of Silicon Valley Bank’s collapse. Mitsubishi UFJ Financial Group Inc. slid as much as 8.3% in Japan, while South Korea’s Hana Financial Group Inc. fell 4.7% and Australia’s ANZ Group Holdings Ltd. lost …

Bailout euphoria by IMF signals peak of pessimism in emerging markets
2 years, 3 months ago

Bailout euphoria by IMF signals peak of pessimism in emerging markets

Live Mint  

It may be too early to turn bullish on emerging markets -- but a raft of bailouts pledged by the IMF and China has some investors deciding it’s too risky to stay bearish. While some countries are still waiting, with Ukraine’s premier on Saturday criticizing slow progress from the IMF in agreeing a new assistance package for the war-torn nation, …

Asia markets extend Wall Street losses on coronavirus fears
4 years, 9 months ago

Asia markets extend Wall Street losses on coronavirus fears

Deccan Chronicle  

Hong Kong: Equity markets fell in Asia on Thursday, tracking a sharp drop on Wall Street as the deadly coronavirus sweeps the planet, with the infection rate fast approaching one million and forcing countries to tighten already strict lockdown measures aimed at containing the disease. Donald Trump's COVID-19 task force has warned the US could see almost a quarter of …

Why stocks have further to fall amid the coronavirus pandemic
4 years, 9 months ago

Why stocks have further to fall amid the coronavirus pandemic

ABC  

If ever you needed convincing that financial markets have become completely divorced from reality, just look at the events of last week. The performance, based on the hope that central banks and government stimulus would insulate financial markets from a global economic downturn, was more BS than bull. The wild ride on global markets last week, following a month of …

Global markets sink despite Fed’s promise of unlimited support for the economy
4 years, 9 months ago

Global markets sink despite Fed’s promise of unlimited support for the economy

CNN  

New York/Hong Kong/London CNN Business — US stocks opened lower Monday andEuropean markets stayed stuck in reverse even after the US Federal Reserve committed itself to creating an unlimited amount of money to prevent the world’s largest economy from plunging into a deep recession. “Aggressive efforts must be taken across the public and private sectors to limit the losses to …

Here’s what could really sink the global economy: $19 trillion in risky corporate debt
4 years, 9 months ago

Here’s what could really sink the global economy: $19 trillion in risky corporate debt

CNN  

London CNN Business — Companies have spent the years since the global financial crisis binging on debt. “This certainly is another match being lit the bonfire of corporate debt liabilities,” said Simon MacAdam, global economist at Capital Economics. “There’s definitely potential for systemic risk.” The coronavirus shock Investors became increasingly anxious about corporate debt this week as stocks sold off …

Asia stock markets hammered as coronavirus panic worsens; world financial markets, safe-haven assets ditched
4 years, 9 months ago

Asia stock markets hammered as coronavirus panic worsens; world financial markets, safe-haven assets ditched

Firstpost  

The plunge, as the coronavirus pandemic spreads, gathered pace after U.S. President Donald Trump spooked investors with a move to restrict travel from Europe, and after the European Central Bank disappointed markets by holding back on rate cuts Singapore: Asia’s stock markets were hammered on Friday as panic gripping world financial markets deepened and even safe-haven assets such as gold …

US stocks halted after falling 7%. Global stocks plunge as oil crashes and coronavirus fear spreads
4 years, 10 months ago

US stocks halted after falling 7%. Global stocks plunge as oil crashes and coronavirus fear spreads

CNN  

Hong Kong/New York/London CNN Business — Global markets are plunging after the implosion of an alliance between OPEC and Russia caused the worst one-day crash in crude prices in nearly 30 years, fueling panic triggered by the escalation of the coronavirus epidemic. The kingdom is trying to retake global market share after Russia refused Friday to go along with OPEC’s …

Global economy faces worst crisis since 2009 over coronavirus
4 years, 10 months ago

Global economy faces worst crisis since 2009 over coronavirus

CNN  

London CNN Business — The coronavirus is plunging the world economy into its worst downturn since the global financial crisis, according to the Organization for Economic Cooperation and Development, which warned Monday that growth could be cut in half if the outbreak continues to spread. Bank of Japan Governor Haruhiko Kuroda promised Monday that the country’s central bank would provide …

World stocks set for worst week since 2008 as coronavirus fears grip markets
4 years, 10 months ago

World stocks set for worst week since 2008 as coronavirus fears grip markets

India Today  

Global share markets were headed for the worst week since the depths of the 2008 financial crisis as investors ditched risky assets on fears the coronavirus would become a pandemic and derail economic growth. Wall Street shares led the rout as the S&P 500 SPX fell 4.42 per cent, its largest percentage drop since August 2011. It has lost 12 …

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