World
Why investors may want to wait before buying the dip: ‘Don’t rush to try to catch a falling knife’
It is not time to buy the dip just yet. The S & P 500 was higher Tuesday, one day after the broad market index posted its worst day in nearly two years amid revived fears of a recession. The broad market index lost 3%, its biggest one-day drop since 2022. The Nasdaq Composite dropped […]
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Kenya central bank cuts main lending rate by 25 basis points
Nairobi cityscape – capital city of Kenya, East Africa Jacek_sopotnicki | Istock | Getty Images Kenya’s central bank cut its benchmark lending rate by 25 basis points to 12.75% on Tuesday, saying there was scope for a gradual easing of its policy stance while ensuring continued exchange rate stability. “The MPC (Monetary Policy Committee) noted […]
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Dow rallies 200 points, S&P 500 up 1% as Wall Street rebounds from sell-off: Live updates
Traders work on the floor of the New York Stock Exchange during morning trading on August 06, 2024 in New York City. Michael M. Santiago | Getty Images Stocks jumped Tuesday, recovering some some losses from the previous trading session. The S&P 500 traded 1.3% higher. The Dow Jones Industrial Average rose 286 points, or […]
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Elon Musk slammed by government after comments on UK riots
Elon Musk attends ‘Exploring the New Frontiers of Innovation: Mark Read in Conversation with Elon Musk’ session during the Cannes Lions International Festival Of Creativity 2024 – Day Three on June 19, 2024 in Cannes, France. Marc Piasecki | Getty Images LONDON — The U.K. government hit back at Elon Musk after the billionaire made […]
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Harris taps Minnesota Gov. Tim Walz as Democratic running mate
Vice President Kamala Harris chose Minnesota Gov. Tim Walz as her Democratic running mate for the 2024 presidential election, three people familiar with the choice tell NBC News. The two are scheduled to appear together later in the day Tuesday in Philadelphia. Walz, 60, in the past two weeks has been on a short list […]
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The popular ‘carry trade’ is unwinding — and economists fear Fed rate cuts could make matters worse
Pedestrians walk past a currency exchange shop in central Tokyo on April 17, 2024. Richard A. Brooks | Afp | Getty Images Rapid interest rate cuts from the Federal Reserve could make matters worse for the global “carry trade” unwind, according to economists at TS Lombard. The warning comes as market participants seek to aggressively […]
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Correction in the dollar-yen was overdue and may be ‘healthy’ for markets, former ECB chief says
The recent rapid strengthening of the Japanese yen can be seen as an overdue and healthy correction — and it’s not time to panic about the wider market impact, the former head of the European Central Bank said Tuesday. A combination of Japanese monetary policy turning hawkish, geopolitical tensions in the Middle East and disappointing […]
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10-year Treasury yield rebounds after hitting its lowest level in more than a year
Treasury yields bounced back on Tuesday as investors closely monitored a reversal of the previous day’s global market sell-off. The yield on the benchmark 10-year Treasury note traded more than 7 basis points higher at 3.855% at 7:08 a.m. ET. It comes after the yield on the 10-year Treasury note on Monday fell to its […]
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As riots and disorder spread, some countries warn their citizens not to travel to the UK
Riot police officers push back anti-migration protesters outside on Aug. 4, 2024 in Rotherham, U.K. Christopher Furlong | Getty Images News | Getty Images Five countries have now issued travel and safety warnings to their citizens living or visiting the U.K. as riots and street disorder continue to plague the country. The United Arab Emirates, […]
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Biggest concern is the market sell-off becoming a ‘self-fulfilling prophecy,’ research firm warns
The New York Stock Exchange is seen during afternoon trading on August 05, 2024 in New York City. Michael M. Santiago | Getty Images News | Getty Images Sustained market declines in the wake of the recent global sell-off could become a “self-fulfilling prophecy” that eventually leads to a recession, Morningstar DBRS analysts warned. “In […]
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