Stocks slid further around the world on Friday on fears Europe's debt crisis and tougher financial regulation will hurt a global economic recovery, as Germany prepared to vote on a massive standby package to stabilize the euro.
Good morning dear traders, EURUSD kept its strength and did not leave the morning range until 6:27 GMT when news of the FED according to EU policy and bad news from Wallstreet were published.
Asian stock markets slid on Friday as worries about the euro zone and the flare-up in market volatility prompted investors to sell shares and keep cash until calm returns.
U.S. oil prices dropped to near $70 on Friday, after falling the previous day for a seventh time in eight sessions, on unabated fears that Europe's debt crisis could hurt global economic growth and slow energy demand.
Germany is poised to approve on Friday the lion's share of a $1 trillion safety net for financially troubled euro zone nations as an EU task force looks to toughen regulations within the bloc blighted by a debt crisis that has cast a pall over global economic health.
France and Germany pledged on Thursday to work together to solve a European debt crisis and support the euro, patching up a public rift that had rattled markets around the world.
Stocks sank nearly 4 percent on Thursday on growing fears the euro zone's efforts to tackle its sovereign debt crisis will fall short, jeopardizing the global economic recovery.
Stocks sank nearly 4 percent on Thursday on growing fears the euro zone's efforts to tackle its sovereign debt crisis will fall short, jeopardizing the global economic recovery.
With the market extra sensitive to any negative news at present yesterdays shock 7% drop in the Westpac Consumer Confidence report for May sent the Aussie plummeting in local trade.
U.S. oil prices fell for the seventh time in eight sessions on Thursday on worries that fiscal problems in Europe could stifle global economic growth and energy demand.
The leaders of Germany and France pledged on Thursday to work together on financial regulation and the euro zone crisis after European discord over debt and new market rules rattled investors worldwide.
Stocks sank nearly 4 percent on Thursday on growing fears the euro zone's efforts to tackle its sovereign debt crisis will fall short, jeopardizing the global economic recovery.
The fiscal tightening from Japan, euro zone, and the United States will lead to slower growth and lower inflation, which is leading to added selling pressure on world financial markets on Thursday, the manager of the world's biggest bond fund said.
Stocks dropped on Thursday, driving indexes down more than 2 percent on growing fears that the euro zone's handling of its sovereign debt crisis could jeopardize the global economic recovery.
The leaders of Germany and France pledged on Thursday to work together on financial regulation and the euro zone crisis after European discord over debt and new market rules rattled investors worldwide.
France unveiled plans on Thursday to add a German-inspired commitment to cutting its budget deficit to its constitution, as European discord over debt and financial regulation rattled global markets.
Stocks dropped on Thursday, with all major indexes sliding more than 3 percent on growing fears that the euro zone's handling of its sovereign debt crisis could jeopardize the global economic recovery.
Stocks fell sharply on Thursday, sending the S&P 500 index into correction territory on growing fears the euro-zone's handling of its sovereign debt crises could put the global economic recovery in jeopardy.
Germany said restoring confidence in the euro was its top priority, demanding tougher regulation and oversight on Thursday to protect the single currency, and joint EU action on withdrawing support for its economies.
A senior euro zone official said on Thursday financial markets were acting irrationally over the euro area's debt problems and while he was concerned about the fall in the euro, immediate action was not needed.
Stock index futures fell on Thursday as concerns grew that recent share declines caused by euro-zone turmoil in the handling of the sovereign debt crises could lead to a wider correction.
World crude steel production for the 66 countries reporting to the World Steel Association (worldsteel) was 122 million metric tons (mmt) in April. This is 35.7% higher than April 2009.China's crude steel production for April 2010 was 55.4 mmt, an increase of 27% compared to April 2009. It is the highest amount of crude steel China has ever produced in a single month.
