Stocks erased the year's gains in the broadest selloff in a month-and-a-half on Wednesday as fears of sustained global economic stagnation caused investors to flee to safer assets.
U.S. stocks turned negative for the year on Wednesday as softer Chinese factory data and a weaker outlook from the Federal Reserve increased worries about the recovery and sparked a selloff.
Stocks tumbled 2 percent and turned negative for the year on Wednesday as softer Chinese factory data and a weaker outlook from the Federal Reserve increased worries about the recovery.
(Corrects to say softer instead of softer-than-expected Chinese factory data in first paragraph)
Stocks dropped more than 2 percent on Wednesday as worse-than-expected Chinese factory data and a weaker outlook from the Federal Reserve added to worries about the economic recovery.
Stocks dropped more than 2 percent on Wednesday as worse-than-expected Chinese factory data and a weaker outlook from the Federal Reserve added to worries about the economic recovery.
Stocks fell sharply on Wednesday after weaker manufacturing data from China and a gloomier growth outlook from the Federal Reserve heightened fears of a lackluster global economic recovery.
Stocks indexes were set to fall more than 1 percent at the open on Wednesday after weaker manufacturing data from China and a gloomier growth outlook from the Federal Reserve underscored a lackluster global economic recovery.
Stock index futures dropped sharply on Wednesday as weaker manufacturing data in China and a gloomier economic outlook from the Federal Reserve led to mounting concerns about the health of the global economy.
Global oil demand growth will inch higher over the rest of this year and into 2011, but any rise will be wiped out if the economy is weaker than forecast, the International Energy Agency said on Wednesday.
China has been buying record amounts of Japanese government debt because it is less risky than U.S. debt, at least in the short term, a Chinese government economist said on Wednesday.
The trade deficit widened a surprising 18.8 percent in June on a surge of consumer goods from China and other suppliers, suggesting second-quarter economic growth was much weaker than previously thought.
The worried and hassled world of bullion investors heaved a sigh of relief following the release of US Federal Reserve report this week following which the gold prices showed signs of gains.
Oil fell below $80 on Wednesday, as a report from the International Energy Agency (IEA) that warned of risks to demand did nothing to dent bearish sentiment caused by economic fears and a sharp fall in equity markets.
Gold fell in Europe on Wednesday as a 1 percent rise in the dollar outweighed potentially supportive news that the U.S. Federal Reserve is holding interest rates at record lows and extending quantitative easing.
Japanese machinery orders and wholesale prices data on Wednesday were weaker than expected, prodding authorities closer to fresh action to support an already fragile economic recovery.
India may temporarily shut down BlackBerry services if New Delhi's concerns about security are not addressed in a meeting between the government and mobile phone operators on Thursday, government sources said.
Growth in Chinese investment and factory output slowed further last month as the government brought credit growth back to normal after a record lending spree in 2009 to counter the global financial crisis.
Oil hovered around $80 on Wednesday after data showing a rise in U.S. crude imports was offset by steps taken by the Federal Reserve to shore up the economic recovery.
The higher U.S. crude imports coupled with lower refinery operating rates, in data released after the close on Tuesday, raised concerns of a stock build in the world's largest energy consumer.
U.S. wheat futures bounced back on Wednesday, snapping a three-session losing streak, as traders took positions ahead of a key U.S. government report expected to estimate lower global output after Black Sea crop damage.
Gold edged up on Wednesday on bargain hunting driven by a drop in stock markets and after the U.S. Federal Reserve said it would keep interest rates low, but a lack of physical buying could cap gains.
The dollar slipped toward a 15-year low against the yen after the Fed took steps to bolster the fragile U.S. recovery, while Asian stocks tracked losses in Wall Street and were also dragged down by tech sales.
The Australian Dollar continued to be sold off late yesterday and into the evening trading session ahead of the widely anticipated FOMC Meeting overnight.
