World stocks stuck in worst run of the year ahead of ECB meeting

Traders work on the floor of the New York Stock Exchange. Picture: REUTERS/BRENDAN McDERMID

A return to what was once its flagship crisis-fighting tool would be a wrenching change of direction for the ECB just months after it wound down its €2.6-trillion quantitative-easing programme, Wall Street’s main indices had fallen for a third straight session, with the S&P 500 posting its biggest one-day decline in a month, as investors sought reasons to buy after a near 20% rally since the start the year.

The ADP national employment report showed private payrolls increased by 183,000 in February after surging 300,000 in January. Economists polled by Reuters had forecast private payrolls advancing 189,000 in February.

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Rand a little firmer as market eyes ECBThe European Central Bank policy announcement is Thursday’s main event, with the expectation that stimulus is on the way
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