AP - World stock markets fell Monday as some investors worried that the three-month rally in share prices may not be justified by economic indicators and as the dollar was boosted by comments this weekend from Russia's finance minister.
LONDON: Oil hit four-month lows on Monday after a steep drop in Chinese stock markets spread concerns about the economic health of the world's biggest energy consumer and more evidence emerged of a global supply glut. Chinese stocks tumbled more than 8 percent on Monday, the biggest one-day drop in eight years, showing an unprecedented government rescue effort to prop up valuations has run out of steam. "Today's oil price fall has been driven by the slump in Chinese stock markets," said Carsten Fritsch, senior oil market analyst at Commerzbank in Frankfurt.
LONDON — The euro and European shares fell for a second day on Tuesday as investors worried about the uncertainty over a bailout for Cyprus aimed at preventing a debt default and banking collapse.
Cyprus’s revised draft bill for a levy on bank deposits scraps the measure for savings under 20,000 euros but does not compensate for the resulting lost revenue by raising it for the wealthy.
Steve Reitmeister submits:You could say the market made two big steps forward in September and October. And now we are taking a step back in November., So let the double dippers and doomsayers beat their chests for a while. They need an ego boost after being so wrong, for so long. The simple fact remains that the economy is getting healthier and corporate earnings are on the rise. Those are the two greatest predictors of future share price performance.
NEW DELHI: The Federal Reserve decided to meet this week so that they could decide on sending out signals of a rate rise as they believe the US economy is slowly clawing back. Other than that, it is a steady slide around the world. Gold is holding just over its five and a half year low, below $1,100 per ounce, with expectations for a near-term US interest rate hike seen keeping momentum firmly with the bears. Oil hit four-month lows on Monday after a steep drop in Chinese stock markets and on more evidence of a global supply glut that has halved prices over the past year.
Greek stocks and bonds declined as Germany’s finance minister voiced skepticism a funding deal was within reach. Russia’s ruble strengthened in the second day of a cease- fire in Ukraine and Brent crude rose to the highest level in almost two months.