Oil prices fell by around 1% on Monday, extending losses of over 3% from Friday, when crude markets slipped to their biggest monthly losses in six months amid stalling demand and as trade wars fanned fears
NEW YORK: Wall Street treaded water on Wednesday after moves in the US bond market brought back fears of a recession as a bruising U.S.-China trade war drags on, while a rise in energy shares offered support.
A German GDP contraction, weak Chinese industrial output and an inversion of the US yield curve all seem to strengthen fears of a global slowdown and the world community needs to take a serious note of it. Also highlighting the seriousness of the issue is the fact that stock markets on both sides of the Atlantic
Global stock markets and Wall Street futures declined on Tuesday after a selloff in the US Treasury debt eased, helping to allay concern about a possible rise in interest rates.
France is faring worse than Germany, Europe’s largest economy, which on Thursday reported a 10.1% plunge in GDP during the April-June period as its exports and business investment collapsed.
The global recession this year will not be as deep as expected as a result of countries’ efforts to counter the economic fallout from the coronavirus pandemic, the OECD said on Wednesday.
The global economy is showing signs of bouncing back from the severe downturn caused by the global coronavirus pandemic, but a full recovery is “unlikely” without a vaccine, IMF chief Kristalina Georgieva said on Wednesday.
Governments in emerging markets, which have suffered an exodus of capital of more than $83 billion in recent weeks, can cover much of that, but "clearly the domestic resources are insufficient" and many already have high debt loads.
The coronavirus pandemic will cause a global recession in 2020 that could be worse than the one triggered by the global financial crisis of 2008-2009, but world economic output should recover in 2021, the International Monetary Fund said on Monday.