LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

Stock markets fall on trade war pessimism; oil rallies

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Tue, Sep 25, 2018
02:36 am
Reuters
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

Stock markets around the world retreated on Monday amid concerns over the potential wider impact of a trade spat between China and the United States, while oil prices rallied to a four-year high after OPEC ignored U.S. calls to raise supply.

Wall Street equities also stumbled on a wave of uncertainty over the future of U.S. Deputy Attorney General Rod Rosenstein, who oversees the special counsel investigation into Russia`s role in the 2016 presidential election.

The White House said President Donald Trump and Rosenstein are scheduled to meet on Thursday to discuss Rosenstein`s future.

The White House announced the meeting after a flurry of conflicting media reports on whether Rosenstein had resigned.

The New York Times last week reported that Rosenstein had suggested secretly recording Trump in 2017 and recruiting Cabinet members to invoke a constitutional amendment to remove him from office.

The Dow Jones Industrial Average <.dji> fell 181.45 points, or 0.68 percent, to 26,562.05, the S&P 500 <.spx> lost 10.3 points, or 0.35 percent, to 2,919.37, and the Nasdaq Composite <.ixic> added 6.29 points, or 0.08 percent, to 7,993.25.

Investors were also factoring in a widely expected interest rate hike by the Federal Reserve at its two-day meeting that begins on Tuesday.

U.S. Treasury yields across maturities briefly fell by around two basis points after an initial report that Rosenstein had resigned before ticking back up.

Benchmark 10-year notes last fell 6/32 in price to yield 3.0907 percent, from 3.068 percent late on Friday.

In European equities markets, the benchmark index for euro zone blue chip stocks <.stoxx50e> retreated nearly 0.6 percent.

China and the United States, the world`s two biggest economies, imposed a new round of tariffs on each other`s goods on Monday, showing no signs of backing down from an increasingly bitter trade dispute that is expected to knock back global economic growth.

"Investors are starting to see the writing on the wall that China is starting to dig in its heels and so is the U.S," said Chris Zaccarelli, chief investment officer at Independent Advisor Alliance, in Charlotte, North Carolina. "It`s a general risk-off tone, a sense that people are becoming a little bit more cautious."

Brexit, as Britain`s planned exit from the European Union is known, also weighed on sentiment. On Friday, British Prime Minister Theresa May said talks with the EU had hit an impasse.

British opposition leader Jeremy Corbyn said on Sunday he would support a second Brexit referendum if his Labour Party is supportive, heaping more pressure on May, amid speculation that she could opt to call a snap parliamentary election.

European Central Bank chief Mario Draghi said he expected a vigorous pickup in euro zone inflation, backing moves toward unwinding an ECB asset purchase program meant to stimulate the economy. That drove the euro to a more than three-month high against the dollar.

The dollar index <.dxy> rose 0.04 percent.

Oil prices jumped more than 3 percent to a four-year high after Saudi Arabia and Russia ruled out any immediate increase in production despite calls by Trump for action to raise global supply.

U.S. crude rose 2.12 percent to $72.28 per barrel and Brent was last at $81.47, up 3.39 percent.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

PUBG Update: PUBG New State game may launch in India? Details here

Lexus drives in LC 500h limited-edition with price starting at Rs 2.15 cr

Transformational Solutions shaping inclusive Connected Citizen Ecosystem

Strong earthquake shakes central Greece, felt in Balkans

Bonanza Portfolio highlights trading strategy in Big Bulls Rakesh Jhunjhunwala recent pick during Covid Lockdown

EPFO members alert! Want to change mobile number in EPF passbook online; do this at epfindia.gov.in

PayPal plans to hire over 1K engineers in India

ICSE CBSE Board Exam 2021: Top 5 exam tips for ICSE CBSE board exam students

MTAR Technologies IPO Review: Invest for BIG listing gains and long term view, Market Guru Anil Singhvi says - know about valuations, risks

Hurun Global Rich List 2021: These Indians are in billionaires' club - Check names, rankings

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved