THE GUARDIAN: Prime minister and Chris Philp fail to restore investor confidence in series of interviews, as government bond yields rise and stock markets tumble
The prime minister, Liz Truss, and the Treasury’s no 2, Chris Philp, have both done a round of broadcast interviews this morning – but their comments appear to have done little to reassure markets.
Government bond yields are rising again, the stock market has tumbled and the pound is sliding. Sterling is now worth $1.0789, a 0.9% drop on the day.
The FTSE 100 and FTSE 250 indices have lost 1.8% and 2.3% respectively this morning. Germany’s Dax has dropped 1.9%, France’s CAC has slid 1.8% and Italy’s FTSE MiB fell 1.1%.
Despite a barrage of criticism, from the International Monetary Trust and the former Bank of England governor Mark Carney, the government is refusing to perform a U-turn on the package of £45bn of unfunded tax cuts aimed at the wealthy it announced on Friday. There is also no sign at the moment that the fiscal policy statement planned for 23 November could be brought forward.
Truss said this morning: “I have to do what I believe is right for the country and what is going to help move our country forward.” » | Julia Kollewe | Thursday, September 29, 2022
Showing posts with label stocks and shares. Show all posts
Showing posts with label stocks and shares. Show all posts
Thursday, September 29, 2022
Friday, September 16, 2022
Stocks Slide at the End of a Rough Week for Investors.
THE NEW YORK TIMES: Pessimism is deepening as bellwether companies like FedEx and General Electric warn of worsening economic and business conditions.
After one of the worst weeks for the stock market this year, investors are losing their nerve as the burst of optimism that accompanied a summer rally fades away.
The S&P 500 index was set to close out the week around 5 percent lower than where it started, down 1 percent in early trading on Friday as corporate executives from bellwethers like FedEx and General Electric warned of crimped supply chains and declining economic activity that would hurt corporate profits.
The stock market’s move on Friday added to sharp losses earlier in the week, after a widely watched gauge of inflation showed that consumer prices rose more than expected in August. The fresh data undermined the popular thesis that inflation had peaked, ushering in expectations that the Federal Reserve would have to do more to restrain the economy that previously expected, raising the risk of the United States slipping into a severe downturn.
The stock slide marked the latest bout of whiplash for investors after a string of surprises this summer that have consistently undermined a more optimistic consensus in financial markets. Now, some of the most powerful trading houses in the world, responsible for investing trillions of dollars on behalf of pension funds, governments and other investors, are warning that there is more pain to come. » | Joe Rennison | Friday, September 16, 2022
After one of the worst weeks for the stock market this year, investors are losing their nerve as the burst of optimism that accompanied a summer rally fades away.
The S&P 500 index was set to close out the week around 5 percent lower than where it started, down 1 percent in early trading on Friday as corporate executives from bellwethers like FedEx and General Electric warned of crimped supply chains and declining economic activity that would hurt corporate profits.
The stock market’s move on Friday added to sharp losses earlier in the week, after a widely watched gauge of inflation showed that consumer prices rose more than expected in August. The fresh data undermined the popular thesis that inflation had peaked, ushering in expectations that the Federal Reserve would have to do more to restrain the economy that previously expected, raising the risk of the United States slipping into a severe downturn.
The stock slide marked the latest bout of whiplash for investors after a string of surprises this summer that have consistently undermined a more optimistic consensus in financial markets. Now, some of the most powerful trading houses in the world, responsible for investing trillions of dollars on behalf of pension funds, governments and other investors, are warning that there is more pain to come. » | Joe Rennison | Friday, September 16, 2022
Saturday, August 27, 2022
Stocks Plunge after Fed Chair Warns of ‘Pain’ from Inflation Fight
THE NEW YORK TIMES: The S&P 500 fell 3.4 percent, its worst daily showing since mid-June, after the Federal Reserve chair spoke about the path ahead for monetary policy.
Wall Street recoiled on Friday, after the head of the Federal Reserve delivered a stern warning that the central bank’s campaign to lower inflation by raising interest rates is “unconditional” even if it leads to pain for households, businesses and in turn stock prices.
The S&P 500 fell 3.4 percent, its worst daily showing since mid-June, taking its losses for the week to 4 percent. The slump was broad, with every sector of the index lower.
Bond investors also quickly adjusted for more rate increases from the Fed, with the two-year Treasury yield, which is sensitive to rising interest rates, moving close to its highest level of the year at 3.44 percent, before easing back to 3.38 percent.
“While higher interest rates, slower growth and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses,” Jerome Powell, the Fed chair, said during a speech at the Kansas City Fed’s annual conference in Wyoming. “These are the unfortunate costs of reducing inflation. But a failure to restore price stability would mean far greater pain.” » | Joe Rennison | Friday, August 26, 2022
Daily Business Briefing.
Wall Street recoiled on Friday, after the head of the Federal Reserve delivered a stern warning that the central bank’s campaign to lower inflation by raising interest rates is “unconditional” even if it leads to pain for households, businesses and in turn stock prices.
The S&P 500 fell 3.4 percent, its worst daily showing since mid-June, taking its losses for the week to 4 percent. The slump was broad, with every sector of the index lower.
Bond investors also quickly adjusted for more rate increases from the Fed, with the two-year Treasury yield, which is sensitive to rising interest rates, moving close to its highest level of the year at 3.44 percent, before easing back to 3.38 percent.
“While higher interest rates, slower growth and softer labor market conditions will bring down inflation, they will also bring some pain to households and businesses,” Jerome Powell, the Fed chair, said during a speech at the Kansas City Fed’s annual conference in Wyoming. “These are the unfortunate costs of reducing inflation. But a failure to restore price stability would mean far greater pain.” » | Joe Rennison | Friday, August 26, 2022
Daily Business Briefing.
Tuesday, June 14, 2022
Global Stock Sell-Off Continues as Economic Concerns Mount
THE NEW YORK TIMES: The losses in China, Japan and Australia followed weakness in the United States, where stocks closed in bear market territory.
The sell-off in stocks continued across the Asia-Pacific region on Tuesday as fears mounted of a recession in the United States and a slowdown in the global economy.
Japan’s Nikkei index fell 1.7 percent in afternoon trading, while China’s Shanghai Composite Index was off 0.5 percent. In Australia, the key stock index tumbled about 4 percent, to its lowest levels in two years.
The market declines followed weakness in the United States, where stocks lost 3.9 percent on Monday to close in bear market territory. After reaching a record high in January, the S&P 500 has fallen more than 20 percent, the seventh bear market in the last 50 years. » | Daisuke Wakabayashi | Tuesday, June 14, 2022
Bear Market Sends Grim Signal of Economic Fears »
The Fed May Discuss the Biggest Interest Rate Increase Since 1994 »
The sell-off in stocks continued across the Asia-Pacific region on Tuesday as fears mounted of a recession in the United States and a slowdown in the global economy.
Japan’s Nikkei index fell 1.7 percent in afternoon trading, while China’s Shanghai Composite Index was off 0.5 percent. In Australia, the key stock index tumbled about 4 percent, to its lowest levels in two years.
The market declines followed weakness in the United States, where stocks lost 3.9 percent on Monday to close in bear market territory. After reaching a record high in January, the S&P 500 has fallen more than 20 percent, the seventh bear market in the last 50 years. » | Daisuke Wakabayashi | Tuesday, June 14, 2022
Bear Market Sends Grim Signal of Economic Fears »
The Fed May Discuss the Biggest Interest Rate Increase Since 1994 »
Monday, June 13, 2022
Wall St. Tumbles as Global Sell-off Accelerates.
THE NEW YORK TIMES: U.S. stocks opened in bear market territory on Monday, a 20 percent decline from their peak in January, a sign of growing pessimism about the outlook for the economy.
Markets around the world tumbled, as higher-than-expected inflation and lower-than-expected economic growth upend the outlook for interest rates and corporate profits. Stocks in Asia and Europe fell, investors dumped government bonds, oil prices slipped and cryptocurrencies crashed.
The S&P 500 fell 2.5 percent at the open of trading, as a wave of selling continued. The S&P 500 briefly dipped into bear market territory last month, before recovering to close just above it. The markets have been jittery since, with the S&P 500 last week recording its worst weekly loss since January.
The benchmark U.S. stock index is now “within one bad day’s move of a bear market, and equity futures suggest that we haven’t seen all the negative sentiment expressed yet,” analysts at ING wrote in a note to investors on Monday morning. The S&P 500 has fallen in nine of the past 10 weeks.
A report on Friday showed a surge in inflation in the United States, which rattled markets, as investors worried that the Federal Reserve may have to raise interest rates higher and faster than expected to rein in rising prices, a move that could hit the U.S. economy.
Global investors sold stocks, bonds and other assets, as inflation is running high in many countries, supply chains remain snarled and forecasts for economic growth are being downgraded. » | Alexandra Stevenson and Jason Karaian | Monday, June 13, 2022
What you should know about bear markets: There have been several instances of near-bear markets in recent decades, but it’s rare for them to hit the threshold »
Wall Street chute, inquiète de l’inflation et de la perspective d’une hausse des taux : La Bourse de New York est entrée dans un marché baissier, avec un recul supérieur à 20 % pour le S&P 500 et de 30 % pour le Nasdaq depuis le début de l’année. Lundi, en début de matinée, les deux indices perdaient respectivement 4,15 % et 3,6 %. »
Angst vor schneller steigenden Leitzinsen – Dax fällt auf weniger als 13.500 Punkte: Nachdem die Inflation in Amerika sogar noch einmal gestiegen ist auf deutlich mehr als 8 Prozent, rückt die mächtigste Notenbank der Welt wieder ins Visier der Börse: Straffen die Währungshüter mehr als gedacht? Die Anleger reagieren schon. »
Friday, May 20, 2022
S&P 500 Falls into Bear Market Territory, Down 20% from January High: Live Updates
THE NEW YORK TIMES: Stocks have slipped for seven consecutive weeks, their worst stretch since 2001. The Federal Reserve’s attempts to bring inflation under control are a big reason stock prices are falling.
Stocks dropped on Friday, pushing the S&P 500 into a bear market for the first time since early in the pandemic, as investors feared the effects of higher inflation, rising interest rates and the risk of a recession.
The S&P 500 was down about 1.6 percent in intraday trading, pushing the benchmark index into bear market territory, a Wall Street term for a 20 percent decline from a recent peak — in this case, since Jan. 3. It is a symbolically important marker of investor pessimism, and the index would have to close the day at this level to officially enter a bear market.
The S&P 500 is also on track for its seventh consecutive weekly decline, an unusually long losing streak.
The pessimism in Wall Street has been prompted by fears about stubbornly high inflation and the Federal Reserve’s plans to increase interest rates in response, which could tip the economy into recession. The pandemic, Russia’s invasion of Ukraine and lockdowns in China have added to these concerns. Stocks cross grim threshold after a long slide. » | Jason Karaian and Coral Murphy Marcos | Friday, May 20, 2022
Big Tech Is Getting Clobbered on Wall Street. It’s a Good Time for Them.:Flush with cash, Facebook, Apple, Amazon, Microsoft and Google are positioned to emerge from a downturn stronger and more powerful. As usual. »
A Weak Euro Heads to an Uncomfortable Milestone: Parity With the Dollar: The euro hasn’t fallen below the one-to-one exchange rate with the U.S. dollar for two decades. But as economic risks grow, more analysts predict deeper lows for the shared currency. »
Stocks dropped on Friday, pushing the S&P 500 into a bear market for the first time since early in the pandemic, as investors feared the effects of higher inflation, rising interest rates and the risk of a recession.
The S&P 500 was down about 1.6 percent in intraday trading, pushing the benchmark index into bear market territory, a Wall Street term for a 20 percent decline from a recent peak — in this case, since Jan. 3. It is a symbolically important marker of investor pessimism, and the index would have to close the day at this level to officially enter a bear market.
The S&P 500 is also on track for its seventh consecutive weekly decline, an unusually long losing streak.
The pessimism in Wall Street has been prompted by fears about stubbornly high inflation and the Federal Reserve’s plans to increase interest rates in response, which could tip the economy into recession. The pandemic, Russia’s invasion of Ukraine and lockdowns in China have added to these concerns. Stocks cross grim threshold after a long slide. » | Jason Karaian and Coral Murphy Marcos | Friday, May 20, 2022
Big Tech Is Getting Clobbered on Wall Street. It’s a Good Time for Them.:Flush with cash, Facebook, Apple, Amazon, Microsoft and Google are positioned to emerge from a downturn stronger and more powerful. As usual. »
A Weak Euro Heads to an Uncomfortable Milestone: Parity With the Dollar: The euro hasn’t fallen below the one-to-one exchange rate with the U.S. dollar for two decades. But as economic risks grow, more analysts predict deeper lows for the shared currency. »
Tuesday, May 15, 2018
Arms Industry Stocks Shoot Up after Trump Withdraws from Iran Deal
Monday, May 02, 2011
CNN MONEY: NEW YORK (CNNMoney) -- U.S. stocks are poised for a higher open, as investors cheer news that Osama bin Laden was killed by U.S. forces Monday.
The founder and leader of al Qaeda, Osama bin Laden, was killed by U.S. forces in Abbottabad, north of Pakistani capital of Islamabad.
In an address to the nation Sunday night, President Barack Obama called bin Laden's death, "the most significant achievement to date in our nation's effort to defeat al Qaeda." » | CNNMoney staff | Monday, May 02, 2011
Tuesday, March 15, 2011
LE FIGARO: Le CAC 40 perd plus de 3% et s'enfonce sous les 3800 points. Londres et Milan suivent le même chemin tandis que Francfort lâche 5%. Les opérateurs s'inquiètent de l'aggravation de la situation nucléaire du Japon.
Encore une journée morose à la Bourse de Paris. Le CAC 40, qui a plongé sous les 3900 points hier, reste ce mardi ancré dans le rouge. Après un démarrage en forte baisse de 2,17% à 3793,95 points, l'indice phare de Paris creuse ses pertes et lâche 3,43% à 3744 points vers 10h30. À Londres et Milan, les Bourses suivent le même chemin et abandonnent également plus de 3%. La Bourse de Francfort creuse ses pertes à près de -5%.
Les indices ont du mal à retrouver le chemin de la hausse alors que la situation nucléaire japonaise s'est encore aggravée. Une nouvelle explosion et un incendie ont eu lieu au sein de la centrale de Fukushima Dai-ichi. «Le niveau de radioactivité a considérablement augmenté» et devient dangereux pour la santé, a déclaré le premier ministre japonais, Naoto Kan, à la télévision, provoquant un vent de panique sur les marchés d'Asie. La Bourse de Tokyo, pour sa part, s'est écroulée de 10,55%. » | Par Hayat Gazzane | Mardi 15 Mars 2011
THE DAILY TELEGRAPH: London joins global sell-off as Japan crisis fuels panic: London shares fell sharply on Tuesday as investors in Europe joined a global market sell-off that started with a 10.55pc plunge in the Nikkei as panicked investors dumped stocks in the face of an escalating nuclear crisis in Japan. » | Tuesday, March 15, 2011
Thursday, October 25, 2007
THE TELEGRAPH: The credit crisis is far from over and British shareholders are at serious risk of becoming its next victims, the Bank of England has warned.
In an unexpectedly downbeat report on the state of the British financial system, the bank warns that the UK stock market is "particularly vulnerable" to a downturn.
Almost all British workers have money invested in shares – either directly or indirectly through their pensions and life assurance plans – and could lose out if share prices suffer a significant fall.
The bank warns that there is a significant risk of the City and Britain's financial system becoming embroiled in further turmoil as a result of the credit crisis gripping the world's money markets. The "credit crunch", which has already caused a run on Northern Rock bank, is far from over, it says.
And today, retail entrepreneur Sir Philip Green warned that the shockwaves from the crisis will be felt throughout the economy. Investors warned of slide in shares (more) By Edmund Conway
Full coverage of the credit crisis
Interest rates
TIMESONLINE:
UK financial system at risk from new shocks, says Bank By Gabriel Rozenberg and Christine Seib
Mark Alexander
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