Bernanke's testimony caused world stock markets to waver between gains and losses. The testimony of US Federal Reserve Chairman Ben Bernanke made investors cautious.
Tags: Stock markets
China Moves to Strengthen Chinese Yuan as Stock Markets Plunge: Report
China's state-owned banks have reportedly interfered to prevent the Chinese yuan from falling quickly.
Indian Rupee nears record low as stocks rebound
Indian Rupee further fell in a narrow range and was nearing its record low. On the other hand, stocks on the Indian bourses staged a recovery. The S&P BSE Sensex was up 0.8 percent paring intraday loss of 1.2 percent. Overseas investors continued to offload in the Indian stock markets.
Average US rate drops to 3.81%
The major factors such as oil price fall, economy growth concerns and uncertainty in stock markets are keeping more pressure on mortgage rates in the US market. The average US rate on long-term mortgage dropped for three weeks in a row to 3.81 percent. The average rate on 15-year mortgages dropped to 3.10 percent from 3.19 percent.
World stocks mostly higher on steady Yuan, Greece expected bailout
Most of the world stock markets were higher last Monday due to the steady Yuan and the expected bailout of Greece.
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Asian stock markets were seen higher as the U.S. continues to report boost in economy. Stock markets in Asia were mostly higher as yet another record high on Wall Street brought momentum in the region.
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