From the Fed to the currency crisis in Europe, here’s what’s behind this sell-off in the financial markets:

Stocks fell sharply, bond yields rose and the dollar strengthened Friday as investors heeded the Federal Reserve’s signal that the battle with inflation could lead to much higher interest rates and a recession. The sell-off was global on Friday, in a week in which the Fed raised interest rates by another three-quarters of a point … Read more

Turkey cuts interest rates again despite 80% inflation

The number of Russian tourists to Europe dropped dramatically during the summer, but rose in several other destinations, including Turkey (here). Onur Dogman | Sopa images | Light rocket | Getty Images Turkey’s central bank surprised markets again with its decision Thursday to cut its key interest rate, despite inflation in the country soaring above … Read more

Bank of England raises, says UK may already be in recession

The Bank of England raised interest rates by 0.5 percentage point on Thursday. Vuk Valcic | SOPA images | Light Rocket | Getty Images LONDON — The Bank of England voted Thursday to raise the key rate from 1.75% to 2.25%, lower than the 0.75 percentage point rise many traders had expected. Inflation in the … Read more

Investors brace for potential rate cut amid 80% inflation in Turkey

An electronic board displays exchange rate information at a currency exchange office in Istanbul, Turkey on Monday, August 29, 2022. Nicole Tung | Bloomberg | Getty Images The Turkish lira hit a new all-time low on Thursday, trading at 11:30 am at 18,377 against the dollar in Istanbul, continuing its downward decline of more than … Read more

2-year government bond yields above 4% for the first time since 2007

Two-year Treasury yields topped 4% for the first time since 2007 on Wednesday, as traders bet the Federal Reserve has much more to do in raising interest rates to fight inflation. The policy-sensitive 2-year Treasury rose by 4 basis points to 4.006%, a level not seen since October 2007. Meanwhile, the return on the benchmark … Read more

EU chief von der Leyen pledges to review energy markets

European Commission President Ursula von der Leyen says it is now time for the bloc to impose a price cap on Russian pipeline gas. John Thys | AFP | Getty Images The European Union will launch a “deep and comprehensive reform” of the electricity market, European Commission president Ursula von der Leyen said on Wednesday. … Read more

Shares plunge after inflation remains higher than expected

NEW YORK — Stocks tumble and disappointment shakes markets around the world on Tuesday, after Wall Street realized inflation isn’t slowing down as much as hoped. the S&P 500 fell 2.3% in Tuesday’s early trading day, threatening to hit a four-day winning streak. Bond prices also fell sharply, pushing their yields higher after a report … Read more

The Fed will run in 3 phases, says author Nomi Prins

A trader works on the floor of the New York Stock Exchange (NYSE) as a screen shows Federal Reserve Board chairman Jerome Powell during a press conference following an interest rate announcement from the Fed, in New York City, US, July 27, 2022. Brendan Mcdermid | Reuters The US Federal Reserve could be forced to … Read more

Stocks open mixed on Wall Street after Labor Day holiday

NEW YORK — Shares open mixed on Wall Street as the market kicks off a week of short break with a muted start. the S&P500 was just in the green early Tuesday as the tech-heavy Nasdaq wavered between small gains and losses. The Dow Jones Industrial Average had also changed little. ADT rose 12% after … Read more

Asian stocks trail Wall Street lower after US jobs report

BEIJING — Asian stock markets fell largely on Monday after Wall Street ended lower last week and China tightened antivirus controls. Tokyo, Hong Kong and South Korea fell. Shanghai won. The price of oil rose by $2 a barrel, while the euro was lower. The Wall Street S BenchmarkThe &P 500 index ended Friday, after … Read more