Tag: #FederalReserve
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Asian markets suffer losses due to a surge in coronavirus cases, Hong Kong
Hong Kong, Jan 28 (AFP/APP): Asian markets suffered further losses on Thursday, tracking a route in New York and Europe as markets were hit by a perfect storm of worries about the slow roll-out of vaccines, surging infections, a stuttering economic recovery, and high valuations. After a months-long rally sent several indexes to records or all-time…
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Free Fall of the US Stock Market
New York, 12th June: With tens of thousands of Americas dying due to COVID-19 Pandemic and mass protests in the US cities, the US stock markets have come to face the reality. According to Baaghi TV report, the US stock market appears to be facing reality after weeks of climbing amid mass unemployment, pandemic crisis, and…
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The dollar is still king, even as coronavirus slams US
New York, April 7 (AFP/APP): The coronavirus outbreak in the United States has caused millions of people to lose their jobs and brought the economy to its knees but it has not dethroned the American dollar. To the contrary, the currency has risen in value this year, gaining six per cent from its lowest point…
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Yuan replaces Dollar as world’s reserve currency: IMF
Lahore, 5th April: The IMF has officially green-lighted the acceptance of China’s currency – the Yuan – into the IMF’s foreign exchange basket. According to Reuters, this move paves the way for the IMF to place the yuan on a par with the US dollar. This is the latest in a series of global developments…
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Oil rallies after Fed moves to help virus-hit economy
Singapore, March 24 (AFP/APP): Oil prices rallied at the open in Asia Tuesday on Federal Reserve measures to boost the coronavirus-hit US economy, offsetting concerns about a failure to approve a rescue package. US benchmark West Texas Intermediate was up 4.3 percent at $24 a barrel while Brent crude, the international benchmark, rose 3.8 percent…
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Dow falls again to end Wall Street’s worst week since 2008
New York, March 21 (AFP/APP): Wall Street stocks plunged again on Friday bringing the market’s worst week since 2008 to a grim conclusion, as the worsening coronavirus pandemic hammers the economy. After a volatile session which saw stocks spend part of the day in positive territory, the Dow Jones Industrial Average lost 4.6 percent, or…
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Major banks move to calm coronavirus fears as toll passes 6,000
Paris, March 15 (AFP/APP): The US Federal Reserve and other central banks announced on Sunday a bold set of measures to shore up confidence hit by the new coronavirus pandemic, as the number of deaths around the world passed 6,000. Faced with a growing economic shutdown from the pandemic, the US Federal Reserve said it…
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Stock markets suffer worst week since financial crisis
New York, Feb 29 (AFP/APP): Global stocks slumped again Friday to mark the largest weekly drop since the 2008 global financial crisis over fears the coronavirus could wreak havoc on the world economy. Crude oil prices tumbled as well and analysts said central banks, especially the US Federal Reserve, might have to shift into crisis-resolution…
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Wall Street inches to records as global recovery continues
New York, Feb 11 (AFP/APP): Further easing of investor concerns over the impact of the new coronavirus outbreak in China allowed US stock to edge to fresh records on Tuesday, continuing a global recovery. And cautious comments on the fallout from the virus by US Federal Reserve Chairman Jerome Powell added to the sense of…
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US stocks end at records, shrugging off Trump impeachment
New York, Dec 20 (AFP/APP): Wall Street stocks pushed to fresh records Thursday, shrugging off a historic US impeachment vote and focusing on heightened hopes for easing trade tensions with China. All three major indices advanced to new records, with the Dow Jones Industrial Average finishing with a gain of 0.5 percent at 28,376.96. The…