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Financial Markets
Wall Street closes sharply lower on new variant fear
The Dow dropped more than 1000 points before closing down 905 points while the S&P 500 had its worst day since February.
26 Nov 2021
Bitcoin retreats 20% from record, joining risk-asset sell-off
Bitcoin fell as much as 9 percent to $53,552 while Ether dropped more than 12 percent on Friday.
26 Nov 2021
Stocks sink on fears over new coronavirus strain
Stocks, US treasury yields and oil sink as new COVID-19 strain rattles markets.
26 Nov 2021
Seoul bids for Hong Kong’s crown as Asia’s financial hub
The South Korean capital faces obstacles to attracting overseas firms, including unfavourable tax rates and regulations.
26 Nov 2021
US consumer spending rebounds despite accelerating inflation
Consumer spending jumped by 1.3 percent in October, double the 0.6 percent gained in September, US data showed.
24 Nov 2021
Turkey, UAE sign financial cooperation deals as ties warm
The deals highlight the pivot towards economic partnership after a decade-long battle for regional influence.
24 Nov 2021
US jobless claims plunge to the lowest level since 1969
The larger than expected drop may be explained by how the government adjusts the raw data for seasonal swings.
24 Nov 2021
Oil falls after US releases emergency reserves
China, India, Japan, South Korea and the UK are also expected to announce release of crude reserves.
24 Nov 2021
Alibaba shares sink near record low as JD.com rises
E-commerce giant’s declining fortunes come as Beijing reins in the power of big tech companies.
23 Nov 2021
IMF revives $6BN bailout for Pakistan’s economy
Pakistan and the International Monetary Fund reached a deal after several months of talks to relax the package’s terms.
22 Nov 2021
Oil extends drop on signs US, China, Japan will release reserves
Speculation is mounting that a coordinated release of oil reserves is on the way to combat accelerating inflation.
22 Nov 2021
Japan PM Kishida unveils $490bn stimulus package
Japanese leader announces record spending as economy struggles to bounce back from the pandemic.
19 Nov 2021
Apple accelerates work on car, aims for fully autonomous vehicle
Apple is refocusing its project around full self-driving capabilities, a person familiar with the matter told Bloomberg.
18 Nov 2021
US jobless claims fall to pandemic low in tight labour market
The US economy is regaining momentum following a summer lull when a wave of COVID-19 infections battered the nation.
18 Nov 2021
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