News Highlights: Top Global Markets News of the Day
Fed raises interest rate by half a point, intensifying its inflation fight
Central bank officials also announced plans to begin reducing their $9 trillion asset portfolio, another move to combat price pressure.
Stocks rally as Investor Digest Fed decision
The Dow closed higher as Federal Reserve Chairman Jerome Powell gave more clarity about the central bank’s interest rate plans.
China Caixin Services PMI falls to lowest level in more than two years
A private gauge measuring activity in China’s services sector fell to its lowest level since the start of the pandemic in February 2020, as an escalation of measures to contain the spread of the virus weighed on customer demand.
Russian Oil Sanctions, Ukraine War Present Risks to Global Economy, Yellen Says
Addressing the WSJ CEO Council Summit, the US Treasury secretary did not rule out that Russia could re-engage with the global economy if a peace deal with Ukraine is reached.
Treasury yields fall after Powell rate comments
Federal Reserve Chairman Jerome Powell said US yields fell on Wednesday, with central bank officials not thinking seriously about raising short-term rates by more than half a percentage point.
Blinken China Speech to Confirm Beijing as Main US Rival
In a speech now postponed after Secretary of State Antony Blinken tested positive for Covid-19, he is expected to emphasize the Biden administration’s view of China, as Russia’s attack on Ukraine drew global attention. has done.
Sri Lanka’s finance minister says country’s available reserves are near zero
Troubled by a severe economic crisis, the island nation is working with the IMF and other international creditors on a sovereign debt restructuring.
California Gov. Newsom Issues Executive Order for Crypto Trading Rules
Gavin Newsom of California Gov. issued an order that aims to help the state maintain its central role in crypto and blockchain by creating a regulatory framework and infrastructure.
Brazil’s Central Bank raises key rate to 12.75%, next meeting sees minor rate hike
The Central Bank of Brazil raised its benchmark Celic lending rate to the highest level in five years and said it would continue with its strategy as long as the country’s rapid inflation begins to slow.
Ukraine captures villages near Kharkiv, eases pressure on battered city
Recent Ukrainian gains outside the country’s second most populous city could blunt Russia’s attempt to conquer the eastern Donbass region.
(END) Dow Jones Newswires
May 04, 2022 23:15 ET (03:15 GMT)
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