International Markets Update

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Stocks ended a turbulent stretch with their worst monthly losses in years, driven by concerns over China and the timing of a U.S. interest-rate inc.....

Summary

  1. Stocks ended a turbulent stretch with their worst monthly losses in years, driven by concerns over China and the timing of a U.S. interest-rate increase.
  2. China unexpectedly devalued its currency, a signal of the government’s concern about slow growth that triggered steep declines in stocks around the globe and further pummeled commodities. 
  3. Investors grappled with the prospect of the U.S. Federal Reserve pushing ahead with raising rates from rock-bottom levels, which have provided support for financial markets across the globe in recent years.
  4. The US economy grew faster than initially thought in the second quarter on solid domestic demand, showing fairly strong momentum that could still allow the Federal Reserve to hike interest rates this year. 
  5. Eurozone consumer prices were barely higher than a year earlier in August, keeping pressure on the European Central Bank to consider additional stimulus measures to bring inflation closer to its target near 2%.
  6. Japanese producer prices contracted by the most in four-and-a-half years as steep drops in the price of energy continue to weigh on inflation.

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International Markets Update

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