Market Update

European shares rose on Friday but headed for sharp weekly losses after a series of interest rate increases from major central banks fueled fears of a sharp economic slowdown. The pan-European Stoxx 600 index rose 0.8 percent in volatile trading, but it is still heading for a weekly decline of …

Oil prices rose on Friday, supported by tight supplies and new sanctions on Iran, but prices are on track for a weekly decline after major central banks raised interest rates, which raised fears of a sharp economic slowdown. Brent crude rose 62 cents, or 0.5 percent, to $ 120.43 a …

The price of gold fell on Friday, due to the impact of the rise in the dollar and US Treasury bond yields on the demand for the precious metal priced in the US currency, and prices are heading for the largest weekly decline since mid-May. And gold fell in spot …

Japan’s Nikkei on Friday posted its biggest weekly drop in more than two years, tracking Wall Street’s decline, even as the Bank of Japan kept massive stimulus. The Nikkei index closed down 1.77 percent at 25,963 points, its lowest closing level since May 12, after falling by 2.7 percent earlier …

Yield curve inverts in the US, signaling at least economic slowdown and hinting at the possibility of recession or a big decline in economic growth globally and in the domestic economy at most.Monetary policy decisions by major central banks round the globe triggered some sort of panic and risk aversion, …

US President Joe Biden may use the Cold-War era “Defense Production Act” To stimulate fuel production. Several US news reports have said that Biden is open to using all possible cards and reasonable tools the federal government has to increase fuel production and lower fuel prices for Americans, including the …

The GDPNow tracker shows that economic growth in the spring was flat at 0%, a steep decline from its previous estimate of 1.3% on June 1 and 0.9% on June 8. President Joe Biden said a recession is “not inevitable” and he is confident the United States can overcome inflation. …

Yield curve inverts in the US, signaling at least economic slowdown and hinting at the possibility of recession or a big decline in economic growth globally and in the domestic economy at most.The yield on three-year US treasury has shot up to 3.45 per cent since Wednesday, from 0.96 per …

The Bank of England hiked 25 bps and initially tumbled the pound, though later rallied due to a weaker US dollar. The BoE decided not to give any forward guidance regarding the pace and time of monetary policy adjustments.Negative US housing data fueled speculations that the US might be heading …

After the prices of bitcoin, ethereum, and other cryptocurrencies saw big drops this week, several experts say it could get even worse amid a broader investor sell-off of risky assets. The price of bitcoin fell more than 30% over the last week to just under $21,000, and Ethereum followed a …