Wall Street fell again, part of a worldwide swoon for stocks as worries about the economy pile higher. The S&P 500 fell 0.7 percent Wednesday after House Speaker Kevin McCarthy said Republicans and Democrats remain far apart in efforts to prevent a default on the U.S. government’s debt. The main U.S. stock index is on…
Dollar Steady as Debt Ceiling Worries Weigh; Pound Swings After Inflation Data
SINGAPORE/LONDON—The dollar on Wednesday held just shy of a two-month high as U.S. debt ceiling negotiations dragged on, while the pound firmed and then softened after stronger-than-expected British inflation data. Also in focus was the New Zealand dollar, which dived 1.8 percent after the country’s central bank flagged an end to rate hikes. The dollar…
Oil Prices up After Bullish Saudi Comments
LONDON—Oil prices rose on Wednesday following a warning from the Saudi energy minister to speculators raised the prospect of further OPEC+ output cuts. Brent crude futures rose $1.09, or 1.42 percent, to $77.93 a barrel by 1048 GMT, while U.S. West Texas Intermediate crude (WTI) gained $1.14, or 1.56 percent, to $74.05 a barrel. Saudi…
Stocks Slide on US Debt Ceiling and Inflation Woes
LONDON—Stocks lurched downwards on Wednesday as U.S. debt ceiling negotiations dragged on without resolution, stoking a general malaise in markets that saw safe haven assets like the dollar and gold hold near recent highs. The New Zealand dollar meanwhile tumbled after the central bank caught markets off-guard by flagging that its tightening cycle is over….
How Major US Stock Indexes Fared Tuesday
Stocks slid on Wall Street as the U.S. government creeps closer to the edge of a potentially disastrous default on its debt. The S&P 500 fell 1.1 percent Tuesday as Democrats and Republicans still haven’t agreed on a deal to keep the U.S. government from running out of cash. Washington is facing a deadline as…
Stock Market Today: Wall Street Slides as Debt Worries Worsen
NEW YORK—Stocks slid Tuesday as the U.S. government crept closer to the edge of a potentially disastrous default on its debt. The S&P 500 fell 1.1 percent after House Speaker Kevin McCarthy said, “We’re not there yet” on a deal to prevent the U.S. government from running out of cash. That followed a meeting late…
Wall Street Opens Lower as Debt Ceiling Talks Remain Deadlocked
Wall Street’s main indexes opened lower on Tuesday as another round of inconclusive talks over increasing the U.S. debt limit raised the spectre of an unprecedented government default. The Dow Jones Industrial Average (.DJI) fell 95.98 points, or 0.29 percent, at the open to 33,190.60. The S&P 500 (.SPX) opened lower by 15.83 points, or…
Dollar Strengthens Broadly on Fed Rate Expectations
LONDON—The U.S. dollar rose for a second day on Tuesday, briefly touching a six-month peak against Japan’s yen, on expectations that U.S. interest rates will remain higher for longer, while ongoing debt ceiling negotiations kept investors on edge. Among a slew of Federal Reserve heavyweights who spoke on Monday, some hinted that the central bank…
Oil Slips as US Debt Ceiling Concerns Offset Tight Supply
LONDON—Oil slipped on Tuesday as investor concern over the risk of a U.S. debt default was balanced by support from a tighter market due to a seasonal rise in gasoline demand and supply cuts from OPEC+ producers. President Joe Biden and House Speaker Kevin McCarthy ended talks on Monday with no agreement on how to…
Markets Nervous on Fed Ceiling Uncertainty, US Yields Rise
LONDON/HONG KONG–Markets were cautious on Tuesday, as the latest talks over the U.S. debt ceiling offered something for optimists and pessimists, leaving European shares just shy of last week’s 15-month top, and U.S. benchmark yields at their highest in two months. President Joe Biden and House Speaker Kevin McCarthy could not reach an agreement on…
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