All posts tagged "Markets"

Treasury Secretary Scott Bessent was reportedly unsettled over the Department of Justice's probe of Federal Reserve Chair Jerome Powell and warned President Donald Trump that it could disrupt the financial market, according to reports on Monday.

Bessent apparently called Trump late Sunday to express his concern, saying the investigation "made a mess," which appeared to have been realized after the dollar's value dropped Monday, while bond yields and gold prices climbed after anxiety following potential political interference with the Federal Reserve, Axios reported.

"The secretary isn't happy, and he let the president know," a source with knowledge of the phone call between Bessent and Trump told Axios. ...

New York (AFP) - Stock markets had a mixed showing Thursday as European indices rallied while Wall Street slipped on concerns over interest rates. European Central Bank policymakers delivered another interest rate increase as anticipated, with eurozone consumer prices still rising fast.  But ECB chief Christine Lagarde sent dovish signals, leaving open the possibility of a pause in its streak of rate hikes as the eurozone's economic outlook has deteriorated. Frankfurt set a record close, while Paris and London logged gains as well. "We've seen a strong session ... as investors increasingly ado......

By Luc Olinga The 30-year-old former trader faces a series of criminal and civil charges in the bankruptcy of his crypto empire. This is a huge blow for Sam Bankman-Fried, the fallen co-founder of FTX, the bankrupt cryptocurrency exchange. The regulators' case accusing him of fraud and conspiracy to defraud FTX's clients and investors has strong support: the cooperation of two of his associates. Zixiao (Gary) Wang, 29, former FTX co-founder and Chief Technology Officer, and Caroline Ellison, 28, the former CEO of Alameda Research, the hedge fund founded by Bankman-Fried, have pleaded guilty to......

The Bank of Russia has decided to increase its key interest rate by 10.5 percentage points to 20% starting Monday, as the central bank responded to Western sanctions amid the Ukraine conflict. A statement said that the move was designed to shield financial stability and protect the savings of citizens from depreciation. In the morning, the rouble lost about 8% of its value against the dollar. As a result, one dollar cost more than ever at around 90 roubles. The national currency plunged in foreign markets even further....

Share prices tumbled and key commodity prices surged as the financial markets reacted to the news on Thursday that Russia had launched a full-scale attack on Ukraine. Germany's DAX index plummeted by more than 4%, diving to around the 14,000 mark. The FTSE 100 index in London sank by more than 3% to settle at under 7,300. "Our worst fears have been realized," said portfolio manager Thomas Altmann from QC Partners in Frankfurt. "There is war raging in Europe." The US markets followed the European slide. The benchmark Dow Jones and Nasdaq both opened over 2.5% down on the previous day's close. T......