By Ritu, Capital Sands The wait for a coordinated U.S. package of policy measures to offset the impact of the Covid-19 outbreak goes on, although House Speaker Nancy Pelosi told reporters that a deal was “near”. Europe enacted more emergency measures as the virus continued its spread, while accurate U.S. data remain elusive due to […]
By Ritu, Capital Sands President Donald Trump’s announcement of a European travel ban sends markets into a fresh tailspin, while Italy shuts down all but essential business activity to contain the coronavirus. The European Central Bank is expected to expend more of its depleted pile of ammunition supporting the eurozone economy and banking system, and […]
By Ritu, Capital Sands Investors pulled out of most asset classes, with stocks and bond funds seeing a combined $36 billion of outflows in the week to Wednesday, BofA said, amid fears of economic damage from the coronavirus epidemic. Stock markets have been selling off since mid-February, wiping out roughly $6.5 trillion of market values, […]
By Ritu, Capital Sands D-Street witnessed one of the most volatile sessions in the recent past on March 2. A 1000-point intraday swing which wiped out most of the gains made on the Sensex during the day. Meanwhile, Nifty50 held onto its crucial support at 11,100 levels. Bears took control in the last one-hour of the […]
By Ritu, Capital Sands Productivity is not growing fast enough in the European Union, investment is still too low and public debt remains high in countries most in need of reducing it, the European Commission said on Wednesday as it outlined a growth strategy for the bloc. In annual recommendations to all EU countries, the […]
By Ritu, Capital Sands Indian shares were slightly higher on Tuesday as Asian markets steadied after a steep sell-off a day earlier, while U.S. President Donald Trump’s two-day visit failed to boost sentiment. The broader NSE Nifty 50 index .NSEI was up 0.2% at 11,854 as of 0403 GMT, while the benchmark S&P BSE Sensex .BSESN also rose 0.2% […]
By Ritu, Capital Sands South Korea reported 161 more coronavirus cases Monday, taking the nationwide total to 763 and making it the world’s largest total outside China. The country has seen a rapid surge in the number of coronavirus cases — adding more than 700 cases in less than a week — since a cluster […]
By Ritu, Capital Sands The return of risk aversion to the financial markets Tuesday has prompted more gains for the U.S. dollar, amid concerns about the extent of the damage caused by the coronavirus in China, but sterling is also showing signs of strength. EUR/USD traded at 1.0836, just off the low of 1.0823, the lowest […]
By Ritu, Capital Sands Oil prices were little changed on Monday as concerns of falling fuel demand caused by the economic fallout from the coronavirus outbreak in China were offset by expectations that output cuts from major producers will tighten crude supply. U.S. West Texas Intermediate crude rose 3 cents to $52.08 a barrel, after […]
By Ritu, Capital Sands Wang Chuanchao shuttered his restaurant in central Beijing three weeks ago as the scare over the coronavirus epidemic in country kept customers away and now he’s reduced to selling off vegetables on the street outside to cut losses. Anticipating packed tables at his 125-seater restaurant over the Lunar New Year, Wang […]