Asian stocks slipped and the dollar stood by a two-decade high on the euro on Wednesday as investors' fears deepened that the continent is leading the world into recession, while oil and European equity futures attempted to steady after a slide.
Gold extended its selloff to an over nine-month low on Wednesday hurt by a stronger dollar, while the Federal Reserve's June meeting minutes established a more "restrictive" monetary policy.
Gold prices staged a slight recovery on Wednesday as some investors resorted to bargain hunting after a more than 2% fall in the previous session, while focus was also on minutes of the U.S.
Gold hovered near a fresh seven-month low on Wednesday, with the dollar perched at a two-decade peak, as investors continued to snub bullion and look to the greenback for safety amid growing anguish over a worsening global economic outlook.
Gold found temporary respite on Wednesday after touching a near seven-month low in the previous session, as the dollar paused for breath after a blistering surge to 20-year highs.
Oil prices slid about 2% to a 12-week low in volatile trade on Wednesday, extending the prior session's heavy losses as investors grew more worried energy demand would take a hit in a potential global recession.
Oil prices fell in volatile trading on Wednesday, extending Tuesday's heavy losses as growing fears of a global recession outweighed supply concerns.
Crude oil futures rose nearly 3% on Wednesday as investors piled back in after the heavy rout in the previous session, shifting their focus again to supply concerns even as worries about a recession mounted.
Oil prices rose as much as nearly 3% on Wednesday before paring some gains as investors piled back into the market after a heavy rout in the previous session, with supply concerns returning to the fore even as worries about a global recession linger.
For months, Kazumi Sato, a nutritionist at a middle school in eastern Tokyo, has received notices about hikes in ingredient prices.
The rising cost of living is turning into a thorny political issue ahead of Japan's upper house election this weekend, as opposition parties peg blame for recent price hikes on Prime Minister Fumio Kishida's policies.
Britain's new finance minister Nadhim Zahawi takes the reins of an economy struggling under the strain of nearly double-digit inflation and a slowdown that looks set to be more severe than in most of the world's other big nations.
U.S. President Joe Biden's team is still looking at options on whether to cut tariffs on Chinese imports to ease inflation, the White House said on Tuesday as industry requests to maintain the duties mounted.
Argentina's economy minister Silvina Batakis took office on Monday after the abrupt resignation of her predecessor threw the government and markets into disarray.
Argentina's long-suffering investors tore into the country's chaotic politics on Monday after the architect of its IMF programme, economy minister Martin Guzman, quit and was replaced by someone seen as close to the powerful vice president Cristina Fernandez de Kirchner.
Argentina's closely watched black market peso rebounded on Tuesday from record lows as the country's new economy minister moved to calm markets, though sovereign bonds plunged amid wider fears about economic crisis and default.
Argentina's closely watched black market peso rose more than 1% to 257 per dollar on Tuesday, traders said, recovering ground after crashing a day earlier as the country's new economy minister pledged fiscal responsibility and stability.
Industrial output in Brazil rose 0.3% in May from April, government statistics agency IBGE said on Tuesday, the fourth consecutive monthly increase but below market expectations of a 0.7% rise.
The S&P 500 and the Dow slipped on Tuesday to start the trading week following a three-day holiday weekend after last Friday's sharp rally, as investors waited for economic data due later this week.
The S&P 500 ended slightly higher on Tuesday as investors kept their focus on the growth trajectory of the U.S.
Wall Street's main indexes fell on Tuesday, with investors fretting about the possibility of a recession as central banks across the world take aggressive actions to stem a surge in inflation.
U.S. stock indexes were set to fall at the open on Tuesday, with investors fretting about the possibility of an economic recession as central banks across the world take aggressive actions to contain a surge in inflation.
More G10 central banks raised interest rates in June than in any month for at least two decades, Reuters calculations showed, and with inflation at multi-decade highs, the pace of policy-tightening is unlikely to let up in the second half of 2022.
Sterling slumped against to a two-year low against the dollar on Tuesday as a crisis in British Prime Minister Boris Johnson's government compounded pressure on a currency already reeling from recession fears and a resurgent greenback.
Crisis-hit Sri Lanka will present a debt restructuring plan to the International Monetary Fund by the end of August, in a bid to win approval for a four-year funding programme, the prime minister said on Tuesday.
Japan spent nearly 30 trillion yen less in the last fiscal year than it had planned for a second year running, which analysts said raises questions about whether stimulus measures like those adopted during COVID-19 could be implemented more efficiently.
China will set up a state infrastructure investment fund worth 500 billion yuan ($74.69 billion) to spur infrastructure spending and revive a flagging economy, two people with knowledge of the matter told Reuters on Tuesday.
The euro sank on Tuesday to its weakest level against the dollar in almost 20 years while oil futures tumbled and bond prices rose as investors sought safety after the latest data fueled fears of a global economic slowdown.
Wall Street's major stock indexes followed European stocks lower on Monday, and the euro sank to its weakest level against the dollar since late 2002, as investors sought safety after the latest data piled on to fears about a global economic slowdown.
The euro sank to a two-decade low versus the dollar on Tuesday as a jump in natural gas prices reignited worries about the euro zone economy and data showed business growth in the region slowed sharply in June.
