Even giant Goldman Sachs has been adversely affected by the stock market chaos, as its 2015 distress trading desk lost about $50 million to $60 million.
Tags: Federal Reserve
Opinion among Federal Reserve Policymakers on U.S. rate hike isn't as divided as it seems
There are mixed opinions coming from the US Central Bank in the past few weeks, but the Federal Reserve policymakers aren't really as divided as they seem as they work under the same framework in determining when to increase interest rates.
Growth in U.S. employment could make Fed hike interest rate
American employers increased jobs at a quick pace last September, a signal that the labor market is close to full strength. This trend could possibly persuade the Federal Reserve to raise interest rates at one of its two remaining meetings this year, according to the Business Insider.
Asia shares trade at three weeks low after new data from China was released
The Asian market open lower on Tuesday as investors start to weigh in again the possibilities of a weak economy sign in China. The market fell to its three-week low and is raising concern in the U.S too causing a substantial loss in the Wall Street.
Oils Prices Rallied, But Recovery Still To Take Longer
Oil Prices increased Wednesday, but Shell is not expecting a recovery anytime soon. Lower inventories and oil production in US petroleum supply caused a spike on oil prices Wednesday, but giant oil company Shell admitted it will still take longer before any recovery.
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Selling on Wall Street was so drastic Monday that the stocks and exchange-traded funds went through unprecedented emergency halts 1,200 times.
The last week witnessed a sudden jump in new applications for unemployment benefits while the four-week average showing a healthy situation in the job market as it touched a record low since 15 April 2000.
Cities such as Columbus (Ohio), San Francisco, Louisville (Ky), Virginia Beach (Va) are registering encouraging growth in wages of over five percent while other cities have only 2.1% growth.
Federal Reserve's Vice Chairman Stanley Fischer stated that although the US has achieved almost full employment, inflation is temporarily low.
The US State and Local government pension funds registered worst performance since 2012 following the bleak performance in global stock markets and bonds.
The S&P 500 and Nasdaq Composite rose on Wednesday following three days of losses as tech shares advanced, while the blue-chip Dow index ticked lower, weighed by Disney's largest daily drop in almost seven years.
The 40-year record high of US dollar against some major currencies is ringing alarm bells for another currency crisis. The ongoing situation could also trigger for another round of crash in the emerging markets. The world is more integrated now than in those days of 1980s and 1990s that witnessed major currency crisis.
U.S. retail sales unexpectedly fell in June as households cut back on purchases of automobiles and a range of other goods, raising concerns the economy was slowing again.
A dozen of the largest Wall Street banks on Monday published detailed plans to show how they would shut down their business during a crisis without the help of taxpayer money, a crucial step to prevent being broken up by regulators.
