News Formal

Dollar, global stocks slip as Fed signals slow growth | Malay Mail

  • 📰 malaymail
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 86%

United States News News

United States United States Latest News,United States United States Headlines

NEW YORK, June 11 ― The dollar slid to a three-month low and a gauge of global stocks fell yesterday after the Federal Reserve projected a more sluggish recovery than the market expected, but the Nasdaq hit a fresh high on expectations of low interest rates past 2022. The greenback fell to...

The greenback fell to three-month troughs against the euro, sterling and Swiss franc after the end of a two-day meeting of the Fed's policy-setting committee. — Reuters pic

“What they're looking at is a rebound that is going to take at least until 2022. That fits maybe a little worse-than-expected consensus,” said Marvin Loh, senior global macro strategist at State Street Global Markets in Boston. Low rates, however, will hurt banks and their loan portfolios. An S&P subsector of banking shares fell 5.8% in its biggest daily percentage decline since April 15, while the S&P 500 financial sector was the biggest drag on the overall index.

The dollar fell about 0.4 per cent against a basket of major currencies to 95.882, after earlier sliding to 95.714, a level not seen since mid-March.

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:

 /  🏆 1. in US
 

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

United States United States Latest News, United States United States Headlines

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

Asia stocks set to fall on Fed's dour outlook | Malay MailNEW YORK, June 11 ― Asian stocks were set to fall today after gloomy economic projections from the US Federal Reserve sent the greenback and most Wall Street shares lower. Fed officials at their policy meeting yesterday said US gross domestic product is expected to decline 6.5 per cent this year....
Source: malaymail - 🏆 1. / 86 Read more »

Investors brace for market swings as Trump slips in election polls | Malay MailNEW YORK, June 10 — The US presidential election is re-emerging as a potential risk to markets after a shift in polls that has seen President Donald Trump lose ground to Democrat Joe Biden. Concerns over election-fueled volatility have regained prominence in recent weeks, even as broader market...
Source: malaymail - 🏆 1. / 86 Read more »