ECONOMY & MARKETS

From meme-stock enthusiasts to retirees, this year's steep dive for both stocks and U.S.

New Zealand's government on Thursday promised to spend more than NZ$1 billion ($630 million) to help people cope with inflation that has reached three-decade highs in the Pacific nation.

Oil prices rebounded from earlier losses on Thursday as Chinese officials planned to ease restrictions in Shanghai, which could further tighten global energy supply, and as the dollar retreated from recent gains.

Oil prices rose on Thursday, recovering from early losses, on hopes that planned easing of restrictions in Shanghai could improve fuel demand while lingering concerns over tight global supplies outweighed fears of slower economic growth.

Oil prices rose on Thursday, recovering from early losses, as lingering fears over tight global supplies outweighed fears over slower economic growth as highlighted by slumping global shares.

Oil prices rebounded from earlier losses in another volatile session on Thursday as Chinese officials planned to ease restrictions in Shanghai, which could further tighten global energy supply, and as the dollar retreated from recent gains.

The dollar fell across the board on Thursday, dipping to a 2-week low, extending its pullback from a two-decade high, as most major currencies battered by the greenback's advance this year drew some buyers.

The euro edged up on Thursday as investors price in the chance of an aggressive near-term tightening path by the European Central Bank, while the safe-haven dollar took a breather after significant gains in the previous sessions.

Safe-haven currencies, including the dollar, eased on Thursday, pausing for breath after big gains the previous session as Wall Street stocks tumbled amid mounting concerns that aggressive tightening by the Federal Reserve and other global central banks could choke growth.

The safe-haven dollar and yen eased on Thursday while the Australian and New Zealand dollars jumped amid signs of an easing in Shanghai's coronavirus lockdown, although sentiment remained fragile as global equities sold off.

The euro rose on Thursday as investors priced in the chance of an aggressive near-term tightening path by the European Central Bank, while the safe-haven dollar paused after significant gains in the previous sessions.Money markets are pricing in around 105 basis points (bps) of ECB rate hikes from around 95 bps on Tuesday before ECB official Klaas Knot signalled a 50-basis-point rate increase was possible in July.

The euro rose on Thursday as investors priced in the chance of an aggressive near-term tightening path by the European Central Bank, while the safe-haven dollar took a breather after significant gains in the previous sessions.

Sri Lanka's central bank held its key interest rates steady on Thursday following a massive 700 basis points increase at its previous meeting and reiterated the need for more fiscal measures and political stability in the crisis-hit economy.

Global equities fell further on Thursday, unable to sustain a late rally on Wall Street, as investors dumped stocks on fears of sluggish growth and bought safe-haven assets such as government debt and the Swiss franc.

World stock markets suffered more heavy falls on Thursday after stark warnings from some of the world's biggest retailers about just how hard inflation is biting gave Wall Street its worst day in almost two years.

Global equity markets skidded further on Thursday as fresh signs of slowing growth led investors to sell stocks and move into safe-haven assets such as government debt and the Swiss franc, poised for its biggest one-day gain in more than six-years.

U.S. shares were mixed late on Thursday as bargain hunters emerged in late trading after investors dumped stocks on fears of sluggish growth and bought safe-haven assets such as government debt and the Swiss franc.

Asian stocks slid on Thursday, tracking a steep Wall Street selloff, as investors worried about global inflation, China's zero-COVID policy and the Ukraine war, while the safe-haven dollar eased.

Heavy falls in European and Asian stock markets followed Wall Street's worst day since mid-2020 on Thursday, as stark warnings from some of the world's biggest retailers underscored just how hard inflation is biting.

Asian stocks tracked a steep Wall Street selloff on Thursday, as investors fretted over rising global inflation, China's zero-COVID policy and the Ukraine war, while the safe-haven dollar held most of its strong overnight gains.

Japan's exports extended double-digit gains for a third straight month in April, but surging global commodity costs inflated the country's import bill to a record, adding to worries about the rising cost of living.

Brazil's Economy Ministry will hold its economic growth outlook at 1.5% in 2022 and 2.5% in 2023, two officials told Reuters on Wednesday, forecasting activity ahead of market projections due to labor market strength and growing private investments.

U.S. Treasury Secretary Janet Yellen on Wednesday confirmed she is advocating within the Biden administration for eliminating some tariffs on Chinese imports that "aren't very strategic" but are hurting U.S.

The White House and philanthropic agencies are working to make it easier for smaller cities and counties to apply for funding under a $1 trillion infrastructure law that aims to rebuild U.S.

U.S. Treasury Secretary Janet Yellen has barely made any public comment on the dollar's exchange rate since she assumed office in January last year, but she may have to find her voice soon.

Wells Fargo Investment Institute said on Wednesday it reduced its economic expectations with a mild U.S.

Permits for future U.S. homebuilding tumbled to a five-month low in April, suggesting the housing market was slowing as rising mortgage rates contribute to reduced affordability for entry-level and first-time buyers.

In volatile currency markets, one trade stands out as an easy bet: selling the British pound.

The Bank of Israel will likely raise short-term interest rates by a quarter-point next week to rein in rising inflation, partly caused by low unemployment and strong economic growth.