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He Predicted the 2008 Crash; ‘Dr. Doom’ Now Expects a ‘Long, Ugly’ Recession

Economist Nouriel Roubini sees a “long and ugly” recession in the US and globally occurring at the end of 2022 that could last all of 2023 and a sharp correction in the S&P 500.

Asian stock markets followed Wall Street lower on Thursday after the Federal Reserve delivered another big interest rate hike to cool galloping inflation and raised its outlook for more. (AP Photo/Ahn Young-joon)
Asian stock markets followed Wall Street lower on Thursday after the Federal Reserve delivered another big interest rate hike to cool galloping inflation and raised its outlook for more. (AP Photo/Ahn Young-joon)
Published on Sep 23, 2022 06:47 PM IST
Bloomberg |

US stocks edge higher ahead of expected interest rate hike: Report

On Wednesday, the central bank will announce its latest decision on rates and is expected to raise its benchmark rate, which influences interest rates throughout the economy, another three-quarters of a percentage point.

Wall Street remains focused on inflation and the Federal Reserve's attempt to lower prices by aggressively raising interest rates.(AP file photo)
Wall Street remains focused on inflation and the Federal Reserve's attempt to lower prices by aggressively raising interest rates.(AP file photo)
Published on Sep 19, 2022 09:07 PM IST
AP | | Posted by Aryan Prakash

Stocks slip on Wall Street, oil drops amid economy worries

The S&P 500 fell 0.3% as of 10:15 a.m. Eastern. The Dow Jones Industrial Average fell 40 points, or 0.1%, to 33,720 and the Nasdaq fell 0.2%.

Wall Street is worried that the Fed could hit the brakes too hard and send the economy into a recession.(AFP Photo)
Wall Street is worried that the Fed could hit the brakes too hard and send the economy into a recession.(AFP Photo)
Published on Aug 15, 2022 08:37 PM IST
AP |

Is the US economy in recession? Here are 8 offbeat indicators to watch

Technically, the call is made by a panel of experts looking at monthly indicators of employment, consumer spending, personal income and manufacturing, among others. But with inflation at a four-decade high, many Americans already feel like the country is in a recession.

With inflation at a four-decade high, many Americans already feel like the country is in a recession(AP Photo)
With inflation at a four-decade high, many Americans already feel like the country is in a recession(AP Photo)
Published on Aug 02, 2022 10:56 AM IST
Bloomberg |

Wall Street texting habit sticks banks with rare $1 billion bill

Morgan Stanley disclosed on Thursday that it expects to pay a $200 million fine, the same amount JPMorgan Chase & Co. paid as authorities use that settlement as a yardstick for the industry.

Wall Street texting habit sticks banks with rare $1 billion bill(Reuters)
Wall Street texting habit sticks banks with rare $1 billion bill(Reuters)
Published on Jul 15, 2022 11:18 AM IST
Bloomberg |

Wall Street stocks end with weekly gains for first time in two months

Friday's gains extend a rally that began Wednesday, reversing the battering stocks have encountered most of the year as the Federal Reserve has launched aggressive steps to tighten monetary policy in response to inflation.

Security guards walk past the Wall Street subway station near the New York Stock Exchange (NYSE) in New York on May 27, 2022. (AFP)
Security guards walk past the Wall Street subway station near the New York Stock Exchange (NYSE) in New York on May 27, 2022. (AFP)
Published on May 28, 2022 08:39 AM IST
AFP |

Wall Street ends mixed, Tesla falls

Wall Street opened stronger on Friday morning before turning sharply negative and adding to deep losses sustained earlier in the week.

A sign for a Wall Street building is shown, (AP file photo)
A sign for a Wall Street building is shown, (AP file photo)
Published on May 21, 2022 01:46 AM IST
Reuters |

Wall Street ends April with more losses, Amazon sees first loss in 7 years

Amazon plunged 14.1 percent after offering a disappointing forecast as it battles rising costs amid slowing growth compared with earlier in the pandemic. The company reported its first loss since 2015.

FILE PHOTO: A Wall Street sign is pictured outside the New York Stock Exchange amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S.(REUTERS)
FILE PHOTO: A Wall Street sign is pictured outside the New York Stock Exchange amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S.(REUTERS)
Published on Apr 30, 2022 05:50 AM IST
AFP |

Wall Street adds to gains following surge in Chinese markets

Technology stocks had some of the biggest gains as investors shifted money into sectors that are considered riskier.

Representational image. (AP)
Representational image. (AP)
Published on Mar 16, 2022 09:41 PM IST
AP |

US markets suffer steep slide to enter correction territory: What is it?

Wall street slide: The market is waiting to hear from Fed policymakers after their latest meeting ends on Wednesday. Some economists have expressed concern that the Fed is already moving too late to combat high inflation.

A general view shows a Wall Street sign outside the New York Stock Exchange (NYSE).(AFP Photo)
A general view shows a Wall Street sign outside the New York Stock Exchange (NYSE).(AFP Photo)
Published on Jan 25, 2022 10:47 AM IST
By, Hindustan Times, New Delhi

Didi departure from NYSE marks end of Wall Street romance with Chinese big tech

Only five months transpired between Didi's going public in New York in June and word Friday that it will prepare a Hong Kong listing. During that time its market value has fallen by 63 percent.

An American flag is pictured in front of the logo for Chinese ride hailing company Didi Global Inc. during the IPO on the New York Stock Exchange (NYSE) floor in New York City, US.(REUTERS)
An American flag is pictured in front of the logo for Chinese ride hailing company Didi Global Inc. during the IPO on the New York Stock Exchange (NYSE) floor in New York City, US.(REUTERS)
Published on Dec 05, 2021 02:54 PM IST
AFP |

Wall Street sees green as US stocks open higher; banks, industrials post gains

The benchmark index was up 0.3% in the first few minutes of trading Monday. Banks and industrial companies were doing the best, while several big technology companies were falling.

A trader reacts while talking on his phone during a break outside of the New York Stock Exchange (NYSE) on Wall Street in New York City.(REUTERS)
A trader reacts while talking on his phone during a break outside of the New York Stock Exchange (NYSE) on Wall Street in New York City.(REUTERS)
Published on Jun 21, 2021 07:24 PM IST
AP |

Wall Street sees turbulence as Fed shift causes rally in value stocks to wobble

The Russell 1000 Value Stock Index is down 4% from its June peak, though still up 13.2% this year. Its growth counterpart is up 9.1% year-to-date.

Wall Street and Broad Street signs in New York, US, on Monday, June 14, 2021. (Bloomberg)
Wall Street and Broad Street signs in New York, US, on Monday, June 14, 2021. (Bloomberg)
Published on Jun 19, 2021 01:37 AM IST
Reuters | , New York

Wall Street ends lower, jittery investors eye Fed report

All eyes are now on the central bank's statement at the end of its two-day policy meeting on Wednesday.

A sign for a Wall Street building is shown, (AP file photo)
A sign for a Wall Street building is shown, (AP file photo)
Published on Jun 16, 2021 01:40 AM IST
Reuters |

Female CEOs saw ranks dwindle in 2020; median pay fell 2%

Already a small group, they saw several high-profile women leave their ranks last year. That means changes in pay for only a few helped skew the overall figures

Overall, many CEOs took a cut in salary last year because of the pandemic, but got more in stock awards and other compensation. (AP Photo/Mark Lennihan)(AP)
Overall, many CEOs took a cut in salary last year because of the pandemic, but got more in stock awards and other compensation. (AP Photo/Mark Lennihan)(AP)
Published on May 28, 2021 07:01 PM IST
AP |

Asia markets rebound after Wall Street rally

Tokyo led the Asian recovery with the Nikkei up 2.4 percent by the closing bell, despite an escalating coronavirus outbreak just three months before Japan hosts the pandemic-delayed Olympics.

Hong Kong was up 0.5 percent while Sydney, Seoul, Singapore and Taipei all posted healthy gains, but Shanghai was down 0.2 percent.(Shutterstock. Representative image)
Hong Kong was up 0.5 percent while Sydney, Seoul, Singapore and Taipei all posted healthy gains, but Shanghai was down 0.2 percent.(Shutterstock. Representative image)
Published on Apr 22, 2021 02:15 PM IST
AFP | | Posted by Harshit Sabarwal

Wall Street bets Moderna, Novavax will finally fall in 2021

Moderna Inc. and Novavax Inc. shares have run their course in the eyes of some Wall Street investors and are prime candidates for bets that they will fall this year.

FILE - In this Nov. 5, 2020 file photo, a sign for Wall Street is carved in the side of a building. Stocks are opening higher on Wall Street led by gains in Big Tech companies. The S&P 500 was up 0.4% early Wednesday, March 31, 2021. (AP)
FILE - In this Nov. 5, 2020 file photo, a sign for Wall Street is carved in the side of a building. Stocks are opening higher on Wall Street led by gains in Big Tech companies. The S&P 500 was up 0.4% early Wednesday, March 31, 2021. (AP)
Published on Apr 05, 2021 11:56 PM IST
Bloomberg |

Global traders are ‘glued to their screens’ and set for volatile open

US equities notched their biggest gain in three weeks on Friday and the S&P 500 closed 1.7% higher as the bull market celebrated its first anniversary since hitting pandemic-era lows.

The possibility of additional block trades still looms over the market, while the traditional end-of-quarter volatility may contribute to sharper swings on high-flying stocks.. (Nicole Pereira/New York Stock Exchange via AP)(AP)
The possibility of additional block trades still looms over the market, while the traditional end-of-quarter volatility may contribute to sharper swings on high-flying stocks.. (Nicole Pereira/New York Stock Exchange via AP)(AP)
Published on Mar 28, 2021 10:46 PM IST
Bloomberg |

Wall Street rallies on strong recovery hopes

Wall Street surged in the last half hour of trading, lifting all three indexes more than 1%. The S&P 500 and Dow eked out record closing highs.

The New York Stock Exchange is seen in New York. Stocks are opening higher on Wall Street at the end of an up-and-down week, led by gains in banks and energy companies. The index was up 0.5% early Friday, March 26, 2021. (AP)
The New York Stock Exchange is seen in New York. Stocks are opening higher on Wall Street at the end of an up-and-down week, led by gains in banks and energy companies. The index was up 0.5% early Friday, March 26, 2021. (AP)
Published on Mar 27, 2021 04:24 AM IST
Reuters | , New York

Wall Street looking to quietly reopen wallets for politicians

The pause on political action committee contributions, touted by major financial companies like JPMorgan Chase & Co., Goldman Sachs Group Inc. and BlackRock Inc., alarmed lawmakers in both parties at the time, given how much of their campaigns are bankrolled by deep-pocketed corporate donors.

FILE PHOTO: The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri(REUTERS)
FILE PHOTO: The Wall Street sign is pictured at the New York Stock exchange (NYSE) in the Manhattan borough of New York City, New York, U.S., March 9, 2020. REUTERS/Carlo Allegri(REUTERS)
Published on Mar 17, 2021 11:54 AM IST
Bloomberg |

Global shares rise, Wall Street sees all-time high despite AstraZeneca concerns

The slower rollouts of the coronavirus vaccine in Asia, compared to the US and Europe, continues to put investors in the region in a cautionary mode, although South Korea, Taiwan, Japan and other nations have had fewer deaths.

FILE - In this Nov. 23, 2020 file photo, a street sign is displayed at the New York Stock Exchange in New York. Stocks were mixed in early trading on Monday, March 15, 2021, as investors sifted a mixed bag of data from China. Wall Street continues to eye the bond market, where yields gave back some of last week's gains. (AP Photo/Seth Wenig, File)(AP)
FILE - In this Nov. 23, 2020 file photo, a street sign is displayed at the New York Stock Exchange in New York. Stocks were mixed in early trading on Monday, March 15, 2021, as investors sifted a mixed bag of data from China. Wall Street continues to eye the bond market, where yields gave back some of last week's gains. (AP Photo/Seth Wenig, File)(AP)
Published on Mar 16, 2021 02:45 PM IST
AP | , Tokyo

Wall Street set to learn how tough Biden’s watchdogs will be

Gary Gensler, whom the White House has tapped to head the Securities and Exchange Commission, and Rohit Chopra, the administration’s choice to lead the Consumer Financial Protection Bureau, are likely to win confirmation, lawmakers and financial executives say.

Wall Street could soon find itself subject to lots more investigations launched by the CFPB, which was created to crack down on industry abuses that Democrats argue spurred the 2008 financial crisis.(via AP)
Wall Street could soon find itself subject to lots more investigations launched by the CFPB, which was created to crack down on industry abuses that Democrats argue spurred the 2008 financial crisis.(via AP)
Published on Mar 01, 2021 11:15 PM IST
Bloomberg | | Posted by Harshit Sabarwal

Stocks climb more than 2% as investors get back to buying

The S&P 500 added 2.1% as of 10:40 a.m. Eastern. More than 95% of the stocks in the index were higher, led by energy companies and airlines. The Dow Jones Industrial Average was up 2.2% and the Nasdaq Composite rose 2.1%.

The yield on the 10-year Treasury note fell to 1.43% after going as high as 1.5% last week, the highest level in more than a year. Higher interest rates can slow the economy and discourage borrowing. (Representative Image)(AP)
The yield on the 10-year Treasury note fell to 1.43% after going as high as 1.5% last week, the highest level in more than a year. Higher interest rates can slow the economy and discourage borrowing. (Representative Image)(AP)
Published on Mar 01, 2021 09:40 PM IST
AP |

Women make inroads on Wall Street, but many mountains yet to be moved

Employment figures demonstrate the mountains that still have to be moved to achieve parity between men and women in the financial services sector.

Women walk past the New York Stock Exchange (NYSE) near Wall Street in New York. (AFP)
Women walk past the New York Stock Exchange (NYSE) near Wall Street in New York. (AFP)
Published on Feb 28, 2021 08:37 AM IST
AFP | , New York

Wall Street robots are having a hard time decoding Reddit's 'memes and typos'

Reddit forum WallStreetBets is hard for humans to follow at the best of times. But spare a thought for the machines.

According to Stockpulse, an indicator measuring GameStop’s buzz on Reddit first peaked in early December, a solid month before its price started climbing.(Reuters file photo)
According to Stockpulse, an indicator measuring GameStop’s buzz on Reddit first peaked in early December, a solid month before its price started climbing.(Reuters file photo)
Updated on Feb 22, 2021 08:22 PM IST
Bloomberg |

Former bank of England governor Carney joins Stripe Inc.

Forbes magazine had reported on Wednesday that investors were valuing Stripe at a $115 billion valuation in secondary-market transactions.

Carney, who headed the Bank of England and the Bank of Canada, had a 13-year career at Wall Street bank Goldman Sachs Group Inc in its London, Tokyo, New York and Toronto offices.(REUTERS)
Carney, who headed the Bank of England and the Bank of Canada, had a 13-year career at Wall Street bank Goldman Sachs Group Inc in its London, Tokyo, New York and Toronto offices.(REUTERS)
Published on Feb 21, 2021 11:51 AM IST
Reuters |

Global stocks higher after weak US jobs, economic data

London and Frankfurt rose in early trading while Shanghai, Hong Kong and Seoul closed higher.

Overnight, Wall Street's benchmark S&P 500 index lost 0.4% for its third straight daily decline.(AP)
Overnight, Wall Street's benchmark S&P 500 index lost 0.4% for its third straight daily decline.(AP)
Published on Feb 19, 2021 03:29 PM IST
AP | , Beijing

Lawmakers overseeing GameStop top US market participation

Disclosure forms for the House Financial Services Committee’s 54 members show that 83%, or 45 lawmakers, have some exposure to the market in mutual funds, retirement accounts, or direct ownership of individual stocks.

The GameStop surge resulted in massive losses for Melvin, after the hedge fund bet the retailer’s stock price would tumble.(Reuters)
The GameStop surge resulted in massive losses for Melvin, after the hedge fund bet the retailer’s stock price would tumble.(Reuters)
Published on Feb 18, 2021 01:01 PM IST
Bloomberg |

Robinhood, Citadel reject conspiracies they halted ‘meme’ trades

The virtual hearing will offer lawmakers their first chance to grill executives involved in the recent stock-market frenzy.

Robinhood Chief Executive Officer Vlad Tenev said that the brokerage halted trades to meet demands from its clearinghouse.(REUTERS)
Robinhood Chief Executive Officer Vlad Tenev said that the brokerage halted trades to meet demands from its clearinghouse.(REUTERS)
Published on Feb 18, 2021 05:54 AM IST
Bloomberg |

Brothers make billions from ex-Wall Street banker’s pharma firm

The Giulianis hold stakes worth about $3 billion in Royalty Pharma Plc, a New York-based firm that buys pharmaceutical royalties from academic institutions, research hospitals and drugmakers such as Pfizer Inc.

American flags hang outside of the New York Stock Exchange Tuesday, Feb. 16, 2021, in New York. (AP)
American flags hang outside of the New York Stock Exchange Tuesday, Feb. 16, 2021, in New York. (AP)
Updated on Feb 17, 2021 03:02 PM IST
Bloomberg |
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