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Stocks tumbled on Wall Street Friday, leaving the S&P 500 with its biggest one-day loss in almost seven weeks, as worries deepen about a surge in interest rates and the U.S. central bank’s efforts to fight inflation.
Several disappointing profit reports from companies also shook what’s been the market’s main pillar of support.
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Russia’s central bank conceded it has found no clear alternatives to the world’s major reserve currencies after sanctions over the war with Ukraine left it in possession of only yuan and gold.
Before the invasion, the Bank of Russia spent years reducing exposure to the dollar, bringing its share to just under 11% at the end of last year. But more than a third of the total was in euros - on top of additional investments into currencies such as the British pound and yen - making it possible for international governments to seize about half of the stockpile in retaliation for President Vladimir Putin’s attack.
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Millions of Americans wait until the last minute to file their taxes and this year is no exception.
Monday is Tax Day — the federal deadline for individual tax filing and payments — and the IRS will receive tens of millions of last-minute filings electronically and through paper forms.
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European Union lawmakers were set on Thursday to back tougher safeguards for transfers of bitcoin and other cryptocurrencies, in the latest sign that regulators are tightening up on the freewheeling sector.
Two committees in the European Parliament have thrashed out cross-party compromises to be voted on. Crypto exchange Coinbase Global Inc (COIN.O) has warned the rules would usher in a surveillance regime that stifles innovation.
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The BSE S&P Sensex slightly recovered from the massive fall of 1800 points reacting to the Russian military action in Ukraine,early Morning on Tuesday.
At 11.11 am the Sensex was down 1,665 points or 2.91% and trading at 55,567 points.
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