News Formal

Global stocks head for third straight session of losses

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Dollar gains as US data strengthens the view that the Fed might stick with aggressive interest rate rises for longer

An employee passes share price information displayed on an electronic ticker board inside the London Stock Exchange Group Plc's offices in London, UK. File photo: BLOOMBERG via GETTY IMAGES/LUKE MACGREGOR

The oil and gas sector was lower after an almost 3.5% slide in crude oil prices overnight. Shell, BP and TotalEnergies were each down about 1%, and among the biggest drags on the pan-European index. “A reassuring trend was in place — policy tightening, leading to growth slowdown leading to slower inflation — which allowed this correction in risk assets and the dollar,” said Samy Chaar chief economist at Lombard Odier.

The dollar held firm against most peers on Tuesday — at 136.6 yen, steady after a 1.8% jump the previous day, thanks in part to the services data, while the euro was at $1.0493 having fallen 0.45% the previous day.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Asian stocks mixed with focus on Fed, China Covid: markets wrapAsian stocks were mixed on Tuesday as investors weighed unexpectedly strong US services data and China’s accelerated moves toward exiting its Covid-Zero policy.
Source: dailymaverick - 🏆 3. / 84 Read more »