Asian markets swing as trades eye tech rally, US rate outlook
Asian markets fluctuated Tuesday as investors assessed the latest tech rally on Wall Street amid worries a bubble is forming in the sector, while mixed signals from Federal Reserve officials fed uncertainty over its next interest rate move. A flood of multi-billion-dollar investment into artificial intelligence has been a key driver of the surge in […]
Asian markets fluctuate after Fed cuts interest rates
Equities wavered in Asia on Thursday after the Federal Reserve lowered interest rates but left investors wondering how many more cuts were in the pipeline despite boss Jerome Powell warning about the struggling jobs market. After months of speculation fuelled by a string of weak labour statistics, the US central bank said it would lower […]
Asian markets swing ahead of toss-up US election
Asian markets fluctuated Tuesday as traders jockeyed for position a day before results from the US presidential election rolled in, with opinion polls showing the vote on a knife-edge as the two candidates wrapped up their campaigns. Uncertainty about the outcome and worries that the winner might not be known for days has led to […]
First Republic Bank’s shares plunge as it reveals more than $100bn of withdrawals
The bank, which was saved from possible collapse by a $30bn cash injection agreed by major lenders, saw its stock drop by up to 29% at the market open on Tuesday. They closed almost 50% lower, leaving its market value 93% lower in the year to date below $3bn. It followed the release of its […]