One year after Nasdaq peak, growth stocks have tumbled and crypto has broken — where to from here?

Time flies when you’re coming undone. Next week will mark the anniversary of the all-time peak in the Nasdaq , the moment of maximum belief in the predictability and power of dominant digital business models. From Nov. 19, 2021, until the bear-market low to date, hit less than a month ago, the Nasdaq Composite lost … Read more

Despite chaos, UK stockpickers are rubbing their hands: Here’s what they’re buying

The U.K. has been beset by political and economic instability in recent months, but as the investment environment undergoes a fundamental transition, investors see opportunity. The makeup of the U.K.’s FTSE 100 differs considerably from many major developed markets, in that it is heavily-weighted toward consumer staples, financials and materials, but contains very little by … Read more

Think the dollar is about to peak? Wall Street pros explain how to trade it

Dollar strength has been the talk of the currency trading world for most of the year. The U.S. dollar index , which measures the dollar’s value relative to a basket of world currencies, rose to a two-decade high in September. It’s also hit all-time highs against several major currencies in recent weeks, including the British … Read more

British pound rises as finance minister brings forward policy announcements

Jeremy Hunt arrives at his home in London after he was appointed Chancellor of the Exchequer following the resignation of Kwasi Kwarteng. Picture date: Friday October 14, 2022. Aaron Chown | Pa Images | Getty Images LONDON — Sterling rose against the dollar on Monday morning after new U.K. Finance Minister Jeremy Hunt announced he … Read more

UK government abolishes plan to cut tax on high earners in major U-turn

“It is clear that the abolition of the 45p tax rate has become a distraction from our overriding mission to tackle the challenges facing our economy,” Finance Minister Kwasi Kwarteng said in a statement. Rob Pinney | Getty Images News | Getty Images LONDON — The U.K. government on Monday reversed a planned scrapping of … Read more

China’s central bank PBOC warns against yuan speculation

The Chinese yuan weakened past the closely-watched 7.2 level against the greenback this week. Getty Images BEIJING — The People’s Bank of China has warned against betting on the yuan, after its rapid decline against the U.S. dollar this week. “Do not bet on a one-sided appreciation or deprecation of the renminbi exchange rate,” the … Read more

Brent crude slides below $85 a barrel as dollar surges

An aerial view of Phillips 66 oil refinery is seen in Linden, New Jersey, United States. Tayfun Cosku | Anadolu Agency | Getty Images Brent crude fell below $85 a barrel Monday, as recession fears weighed and the U.S. dollar surged. Brent futures for November settlement were trading down over 1% around $84.92 at 8 … Read more

Sterling hits record low against the dollar, as Asia-Pacific currencies also weaken

Sterling hit a record low. Matt Cardy | Getty Images The British pound plunged to a record low on Monday morning in Asia, following last week’s announcement by the new U.K. government that it would implement tax cuts and investment incentives to boost growth. It fell to an all-time low of $1.0382 on Monday morning in Asia. … Read more

Mass protests in Iran is the regime’s biggest challenge in years

A protester holds a portrait of Mahsa Amini during a demonstration in support of Amini, a young Iranian woman who died after being arrested in Tehran by the Islamic Republic’s morality police, on Istiklal avenue in Istanbul on September 20, 2022. Ozan Kose | AFP | Getty Images Protests rocking Iran over the death of … Read more

Bank of England raises rates by 50 basis points, in seventh consecutive hike

The Bank of England warned that the U.K. will enter recession later this year. The expected recession is forecast to be the longest since the global financial crisis. Vuk Valcic | SOPA Images | LightRocket | Getty Images The Bank of England voted to raise its base rate to 2.25% from 1.75% Thursday, as it … Read more