Tag: #WallStreet
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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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Tokyo’s Nikkei opens down more than 3%
Tokyo, March 26 (AFP/APP): Tokyo’s key Nikkei index opened down more than three percent Thursday on profit-taking after surging in recent sessions, although US stimulus plans offset worries over the coronavirus pandemic. The Nikkei 225 index dropped 3.13 percent, or 611.27 points, to 18,935.36 in early trade, while the broader Topix index was down 2.64…
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Tokyo’s Nikkei surge 8% after US stimulus deal
Tokyo, March 25 (AFP/APP): Tokyo stocks surged more than eight percent Wednesday, marking their best percentage gain since 2008 after US lawmakers agreed a $2-trillion coronavirus rescue package and on relief that the Tokyo Olympics was postponed, not canceled. The benchmark Nikkei 225 index, which soared more than seven percent on Tuesday, added another 8.04…
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Asia markets rally as Fed unveils ‘game changer’ support measures
Hong Kong, March 24 (AFP/APP): Asian markets and crude prices surged while the dollar sank Tuesday after the Federal Reserve unveiled an unprecedented bond-buying program to support the US economy. While most of the planet goes into lockdown, traders gave a massive thumbs up to the US central bank’s pledge to essentially print cash in…
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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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Stocks rebound as US makes economic moves against virus
New York, March 17 (AFP/APP): Stocks rebounded Tuesday following Wall Street’s sharpest daily drop in more than three decades as the US and European governments signaled more stimulus measures to address the economic hit from the coronavirus. A day after shedding almost 3,000 points, the Dow finished up 5.2 percent or around 1,050 points at…
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Asian markets tumble again after virus sparks Wall St collapse
Hong Kong, March 17 (AFP/APP): Asian markets sank Tuesday as investors struggled to pick themselves off the floor following the previous day’s global bloodbath, which saw Wall Street suffer its worst day in more than three decades as coronavirus sweeps the planet. Despite government and central bank attempts to soothe markets with massive stimulus pledges…
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US to spend $50 billion, buy oil amid virus economic pain
Washington, March 14 (AFP/APP): With the economy reeling, US President Donald Trump on Friday declared a national emergency to stem the damage from the coronavirus, unlocking $50 billion in federal spending while also unveiling plans to stockpile oil and waive interest payments on student loans. Hours later, House Democratic leader Nancy Pelosi announced she reached…
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Shaikh, Shale or the Czars: Who is going to win this Oil price and production war?
This opinion has been shared by Mr. Mir Mohammad Ali Khan. We all woke up to a crisis in the oil markets yesterday. It was a 31% drop within seconds. The second highest drop since January 1991 when the Gulf War had broken out. Most of the millennials will not remember that. I remember it…
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Dow slumps again to finish worst week since October 2008
New York, Feb 29 (AFP/APP): Wall Street stocks suffered another downbeat session on Friday to conclude the worst week since the 2008 financial crisis amid worries the coronavirus will derail global economic growth. The Dow Jones Industrial Average finished at 25,409.36, down 1.4 percent, but about 725 points above its session lows. The broad-based S&P…