Dow plunges low to 2022 on fear of recession in global markets

BEIJING — Shares fell sharply worldwide on Friday on concerns that an already slowing global economy could slide into recession as central banks ramp up pressure with additional rate hikes. The Dow Jones Industrial Average fell 1.6%, closing at its lowest level since late 2020. The S&P500 fell 1.7%, close to the mid-June 2022 low, … Read more

IMF chief warns there will be ‘people on the streets’ worldwide unless measures are taken to reduce inflation

CNN — There will be “people on the streets” worldwide unless measures are taken to protect the most vulnerable from inflation, Kristalina Georgieva, the head of the International Monetary Fund (IMF), warned Wednesday. “It’s important to remember that this composite impact of multiple crises is already testing people’s patience and resilience. And if you don’t … Read more

How HSBC’s wealth manager proposes to protect your portfolio from inflation

Hong-Kong CNN Business — People around the world are looking for ways to protect themselves from the impact of stubbornly high inflation, and the rich are no exception. Nuno Matos, HSBC’s CEO of wealth and personal banking, told CNN Business that global investors “were not as active as they used to be,” with many looking … Read more

Shares fall as investors wait for Fed rate hike

New York CNN Business — So much for Wall Street sitting back and taking it easy in anticipation of the Federal Reserve’s latest interest rate decision on Wednesday. Shares fell Tuesday as investors worried about the impact of another major rate hike. The Dow fell more than 450 points, or 1.5%, in afternoon trading. The … Read more

Premarket trading: Wall Street dodged a rail strike crisis, but trouble ahead

A version of this story first appeared in CNN Business’s Before the Bell newsletter. Not a subscriber? You can sign up here. You can listen to an audio version of the newsletter by clicking on the same link. New York CNN Business — The White House announcement that a tentative deal has been reached to … Read more

Premarket Stocks: Ukraine’s Wins Are Exciting for Wall Street. The boost can fade quickly

A version of this story first appeared in CNN Business’s Before the Bell newsletter. Not a subscriber? You can sign up here. You can listen to an audio version of the newsletter by clicking on the same link. London CNN Business — Over the past week, Ukrainian forces have dealt a massive blow to Russia’s … Read more

The Big Threat to the U.S. Economy No One’s Talking About

This story is part of CNN Business’s Nightcap newsletter. Sign up for free to get it in your inbox, here. New York CNN Business — This Friday, tens of thousands of railroad workers are poised to go on strike, potentially bringing nearly a third of all U.S. freight to a standstill. It would be the … Read more

European Central Bank implements largest rate hike ever

Frankfurt, Germany — The European Central Bank on Thursday delivered its largest rate hike ever, following the US Federal Reserve and other central banks in a global stampede of rapid rate hikes designed to stem record inflation, which is pushing consumers and Europe into recession. pushes, pressing the head. The bank’s 25-person board raised its … Read more

Give & take: West gives Ukraine weapons, bans Russian coal

Kyiv, Ukraine — In a day of give-and-take, Western countries have made more commitments to send weapons to Ukraine, while the European Union’s full ban on Russian coal imports went into effect Thursday, amid claims that sanctions against Moscow are now even influence defense exports. Chancellor Olaf Scholz promised on Thursday that Germany is “shipping … Read more

Consumer price increases took a breather in July, raising hopes that inflation has peaked

CNN — Runaway inflation took a breather in July, with consumer prices rising 8.5% year over year, a slower pace than the 9.1% rise in June, the Bureau of Labor Statistics reported Wednesday. Monthly inflation was 0% compared to the increase of 1.3% in June. Prices started to rise sharply in early 2021, with inflation … Read more