Less than a month in 10 Downing Street, Liz Truss and her team have already adopted an us-against-the-world mentality, after a brutal reaction to her economic plans triggered the humiliation of a central bank rescue
With the third quarter over, both assets have seen painful sell-offs - the S&P 500 is down nearly 25 percent year-to-date and the ICE BofA Treasury Index has fallen by around 13 percent. The twin declines are the worst since 1938
Finance Minister Kwasi Kwarteng announced around £45 billion ($50 billion) of permanent, unfunded tax cuts as well as costly temporary subsidies to household and business energy bills
In the first nine months of 2022, Wall Street suffered three quarterly declines in a row, the longest losing streak for the S&P and the Nasdaq since 2008 and the Dow's longest quarterly slump in seven years
Companies are hiring judiciously as they worry about the impact of the US slowdown on business. HR experts say SaaS firms should use the opportunity to make business processes more efficient.
Gross domestic product expanded 0.2 percent in the three months to the end of June, upgraded from a modest 0.1-percent contraction, the Office for National Statistics said in a statement.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.7% to its lowest since April 2020 as selling swept across emerging markets.
The company, which in July cut nearly 60 jobs in its rental division, has been battling surging expenses as U.S. inflation reaches levels not seen in four decades. As of June 30, Lyft had nearly 5,000 employees, according to its latest quarterly filing with the Securities and Exchange Commission.
Paul Schulte, founder and editor, Schulte Research, talks about the rupee fall, global sell-off, Indian markets, and the dollar index in a special interaction with CNBC-TV18.
Flagging rising real yields as a major headwind, Goldman strategists cut equities to underweight in the US investment bank’s global allocation over the next three months while staying overweight cash.
I think investors should look at fundamentally strong businesses to play this market...and investors should be in equities with a relatively long term horizon, he said.
While global growth this year was still expected at 3.0%, it is now projected to slow to 2.2% in 2023, revised down from a forecast in June of 2.8%, the Organisation for Economic Cooperation and Development said.
Any hopes that stocks had priced in the bulk of the bad news heading into the Fed’s latest meeting are now dashed. The S&P 500 Index lost more than 4% since mid-day Wednesday, when the central bank raised rates by three-quarters of a percentage point and signaled that a more aggressive pace of hikes than expected is on the way.
In this episode of The Week on Dalal Street, Santosh Nair and Anuj Singhal discuss if India can still outperform in the face of sustained weakness in global markets.
At this point of time, one really can't fight this tsunami of interest rate hike and tightening policy that are being seen across the board, he said.
On Friday, both Sensex and Nifty declined for third the consecutive session. Here’s a look at the key factors fuelling the selloff.
This was the seventh out of eight sessions when the currency dropped and lost over 2.51% in this period. So far this year, it fell around 8.48%.
Despite facing a slumping currency, tight labor market and inflation near its highest in four decades, officials decided against acting more boldly as large hikes threaten to tip the economy into recession.
Jamie Dimon remains optimistic on the Indian economy and said the impact of rate hikes by the US central bank on India will be relatively less compared to other global economies
Fed Chair Jerome Powell has hinted that the central bank may be willing to tolerate a recession, to get inflation back in control. Here are some of the sharpest comments:
Aggressive rate hikes across the world risk sending the global economy into a devastating recession
With the US Fed delivering a very hawkish message, markets have tumbled. The Indian markets have been resilient in the recent past, thanks to better macros. But investors need to be selective
Policy makers, criticized for being too late to realize the scale of the US inflation problem, are moving aggressively to catch up.
India was never coupled fully with the global economy and so is relatively independent of global markets
Demand slowdown in Europe is a much bigger worry as we could sense from channel checks across the industry