CEO Elon Musk has said that&nbsp;he won’t sell any further shares in Tesla for 18 months or more, in an attempt to pacify shareholders of the EV company who have watched the stock fall&nbsp;nearly half of its value since Musk’s takeover&nbsp;of Twitter.

“I’m not selling any stock for 18 to 24 months,” Musk said during an audio-only Twitter Spaces group conversation on Thursday. Musk then said he wouldn’t sell Tesla shares for two years, but backtracked and said he would pause sales for at least one year.

Musk&nbsp;dumped&nbsp;$2.58 billion&nbsp;worth of Tesla stock last week and has sold nearly $23 billion worth of his car company’s shares since April, when he started gaining ground in Twitter.&nbsp;Over the past two months, Musk has spearheaded a dizzying array of changes that have upset advertisers and alienated users. He laid off half of his staff, took moderators out of contract, and dissolved the Trust and Safety Advisors Council. He stopped enforcing his COVID-19 misinformation rule and filed criminal charges against Dr. Anthony Fauci, an infectious disease expert in the United States.

Also read |&nbsp;<a href="https://www.wionews.com/world/worlds-most-subscribed-youtuber-mr-beast-offers-to-be-twitter-ceo-elon-musk-responds-545829">World's most-subscribed YouTuber Mr Beast offers to be Twitter CEO. Elon Musk responds</a>

Tesla investors are fed up with the 24/7 Twitter clamor. The eccentric CEO is distracted from his main source of wealth, the electric car company, they say. 
Tesla's market cap surpassed $1.1 trillion on April 1st. This was the last trading day before Musk announced that he would buy his Twitter stake. Since then, the company has lost almost two-thirds of its value as rival automakers squeezed Tesla's dominant share of electric car sales.

Tesla shares fell more than&nbsp;one per cent on Friday, to $123.74. They were more than $360 each on April 1 and hit an all-time high of more than $414 in November of 2020.

This week,&nbsp;Tesla amplified the discounts it’s offering&nbsp;through year’s end on its two top-selling models, an indication that demand is slowing for its EVs.

(With inputs from agencies)

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CEO Elon Musk has said that he won’t sell any further shares in Tesla for 18 months or more, in an attempt to pacify shareholders of the EV company who have watched the stock fall nearly half of its value since Musk’s takeover of Twitter.

CEO Elon Musk has said that he won’t sell any further shares in Tesla for 18 months or more, in an attempt to pacify shareholders of the EV company who have watched the stock fall nearly half of its value since Musk’s takeover of Twitter. “I’m not selling any stock for 18 to 24 months,” Musk said during an audio-only Twitter Spaces group conversation on Thursday. Musk then said he wouldn’t sell Tesla shares for two years, but backtracked and said he would pause sales for at least one year. Musk dumped $2.58 billion worth of Tesla stock last week and has sold nearly $23 billion worth of his car company’s shares since April, when he started gaining ground in Twitter. Over the past two months, Musk has spearheaded a dizzying array of changes that have upset advertisers and alienated users. He laid off half of his staff, took moderators out of contract, and dissolved the Trust and Safety Advisors Council. He stopped enforcing his COVID-19 misinformation rule and filed criminal charges against Dr. Anthony Fauci, an infectious disease expert in the United States. Also read | World's most-subscribed YouTuber Mr Beast offers to be Twitter CEO. Elon Musk responds Tesla investors are fed up with the 24/7 Twitter clamor. The eccentric CEO is distracted from his main source of wealth, the electric car company, they say. Tesla's market cap surpassed $1.1 trillion on April 1st. This was the last trading day before Musk announced that he would buy his Twitter stake. Since then, the company has lost almost two-thirds of its value as rival automakers squeezed Tesla's dominant share of electric car sales. Tesla shares fell more than one per cent on Friday, to $123.74. They were more than $360 each on April 1 and hit an all-time high of more than $414 in November of 2020. This week, Tesla amplified the discounts it’s offering through year’s end on its two top-selling models, an indication that demand is slowing for its EVs. (With inputs from agencies) WATCH WION LIVE HERE:

Elon Musk reassures investors, tells them he will pause on Tesla stock sales for 18 to 24 months

The stock market's darkest days are yet to come. Some of the most severe downfalls&nbsp;the index suffered over the first 10 months of the year have been somewhat offset by Wall Street's mini-rebound since mid-October. It increased by more than 10 per cent&nbsp;since its low two months ago and ended the day Monday just around 4,000. Many analysts forecast&nbsp;that if the Federal Reserve eventually stops raising interest rates to bring rising inflation under control, equities will end in 2023 at least in this area, if not slightly higher. But many of Wall Street also anticipate that stock prices will decline significantly in the meantime before we reach that final destination.

Take Morgan Stanley, which estimates that within the first three months of the new year, the S&amp;P 500 could fall all the way to a range between 3,000 and 3,300. Accordingly, it might lose up to 25 per cent&nbsp;of its value from Monday's closing level. The bottom end of that range would be 37.5 per cent&nbsp;lower than the previous high, which was established in early 2022.

The bank is pessimistic because its strategists predict significantly lower corporate earnings than those of the rest of Wall Street. Businesses are under pressure to increase revenue while manufacturing and other sectors of the economy are deteriorating. However, Morgan Stanley predicts that once firms made sacrifices, increasing wage expenses will limit profitability.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/with-uncertain-saudi-help-and-imf-loan-pakistans-economic-woes-hit-new-low-543222">With uncertain Saudi help and IMF loan, Pakistan's economic woes hit new low</a>

Additionally, Goldman Sachs strategists projected a low in the first half of the year, probably near 3,600. Based on Goldman Sachs' prediction that the economy can avoid a recession, it would be a decline of close to 10 per cent&nbsp;from Monday's closing.

Goldman strategists led by David Kostin predicted that the S&amp;P 500 may drop as low as 3,100 if the economy does really collapse as many on Wall Street anticipate.

Also watch&nbsp;|&nbsp;Sri Lanka expecting $5 bn in loans from multilateral agencies

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The U.S. economy will experience a recession in the second half of 2023, according to strategists at Deutsche Bank. The German bank forecasts that the recession will persist into the last six months of the year, and that may push the S&amp;P 500 as low as 3,250 before it reaches its bottom.&nbsp;According to the strategists led by Binky Chadha, assuming equities follow their usual playbook during recessions, the S&amp;P 500 could conclude the year as high as 4,500.

(With inputs from agencies)

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The stock market's darkest days are yet to come. Some of the most severe downfalls the index suffered over the first 10 months of the year have been somewhat offset by Wall Street's mini-rebound since mid-October.

The stock market's darkest days are yet to come. Some of the most severe downfalls the index suffered over the first 10 months of the year have been somewhat offset by Wall Street's mini-rebound since mid-October. It increased by more than 10 per cent since its low two months ago and ended the day Monday just around 4,000. Many analysts forecast that if the Federal Reserve eventually stops raising interest rates to bring rising inflation under control, equities will end in 2023 at least in this area, if not slightly higher. But many of Wall Street also anticipate that stock prices will decline significantly in the meantime before we reach that final destination. Take Morgan Stanley, which estimates that within the first three months of the new year, the S&P 500 could fall all the way to a range between 3,000 and 3,300. Accordingly, it might lose up to 25 per cent of its value from Monday's closing level. The bottom end of that range would be 37.5 per cent lower than the previous high, which was established in early 2022. The bank is pessimistic because its strategists predict significantly lower corporate earnings than those of the rest of Wall Street. Businesses are under pressure to increase revenue while manufacturing and other sectors of the economy are deteriorating. However, Morgan Stanley predicts that once firms made sacrifices, increasing wage expenses will limit profitability. Also read | With uncertain Saudi help and IMF loan, Pakistan's economic woes hit new low Additionally, Goldman Sachs strategists projected a low in the first half of the year, probably near 3,600. Based on Goldman Sachs' prediction that the economy can avoid a recession, it would be a decline of close to 10 per cent from Monday's closing. Goldman strategists led by David Kostin predicted that the S&P 500 may drop as low as 3,100 if the economy does really collapse as many on Wall Street anticipate. Also watch | Sri Lanka expecting $5 bn in loans from multilateral agencies The U.S. economy will experience a recession in the second half of 2023, according to strategists at Deutsche Bank. The German bank forecasts that the recession will persist into the last six months of the year, and that may push the S&P 500 as low as 3,250 before it reaches its bottom. According to the strategists led by Binky Chadha, assuming equities follow their usual playbook during recessions, the S&P 500 could conclude the year as high as 4,500. (With inputs from agencies) WATCH WION LIVE HERE:

Wall Street may get lot worse before getting better in 2023, forecast analysts

Indian markets have been on a high since many days but today they have also registered some losses. Overall Asian shares were tense ahead of US payrolls data.

World Business Watch | Asian shares flat ahead of U.S. payrolls data

Share markets across the world showed movement as Russian President Vladimir Putin announced partial mobilisation in the country. The escalation has raised concerns about energy supplies as well as increased demand for weapons.&nbsp;

UK's commodity-heavy FTSE 100 reversed early losses on Wednesday, buoyed by oil stocks as crude prices surged&nbsp;

The benchmark FTSE 100 (.FTSE) rose 0.5%, while the domestically focussed mid-cap index (.FTMC) added 0.3% by 0817 GMT.

Oil majors BP (BP.L) and Shell (SHEL.L) climbed nearly 2.5% each as crude prices jumped on concerns of tighter oil and gas supply.&nbsp;

In addition to oil companies, shares of defence companies rose too. Shares of BAE Systems, Britain's biggest defence company jumped by 5.3 per cent

"Investors will be looking at defence stocks and thinking about the potential that governments will look to increase their spend on weapons and on military hardware," said Danni Hewson, financial analyst at AJ Bell. Hewson was quoted by Reuters.

UK Prime Minister Liz Truss was another world leader who caused a stir in the markets.

Housing stocks (.FTNMX402020) rose 3.3% after a report said that Truss will announce plans to cut the stamp duty on property tax in the government's mini-budget this week.

Also Read | <a href="https://www.wionews.com/world/ukraine-crisis-russias-vladimir-putin-announces-partial-military-mobilisation-518283">'Will use all available means, this is not a bluff': Russia's Putin announces partial military mobilisation</a>

Markets are expecting the Bank of England to follow suit on Thursday,&nbsp;pricing in a 77% chance of a 75-basis-point increase in rates to 2.5%, and a 23% chance of a smaller 50-basis-point increase.&nbsp;

"After what we saw in Sweden yesterday and what we're expecting to see from the Federal Reserve, it does put a great deal of pressure on the Bank of England," said Hewson.

"Markets are not quite sure what to expect from the BoE because you've got the UK Government about to borrow a huge chunk of additional cash, the expectation that the economy is already in recession and a situation where the BoE cannot cut rates in order to stimulate economic growth because that will only lead to further inflationary pressures."

(With inputs from agencies)

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Share markets across the world showed movement as Russian President Vladimir Putin announced partial mobilisation in the country. The escalation has raised concerns about energy supplies as well as increased demand for weapons.

Share markets across the world showed movement as Russian President Vladimir Putin announced partial mobilisation in the country. The escalation has raised concerns about energy supplies as well as increased demand for weapons. UK's commodity-heavy FTSE 100 reversed early losses on Wednesday, buoyed by oil stocks as crude prices surged The benchmark FTSE 100 (.FTSE) rose 0.5%, while the domestically focussed mid-cap index (.FTMC) added 0.3% by 0817 GMT. Oil majors BP (BP.L) and Shell (SHEL.L) climbed nearly 2.5% each as crude prices jumped on concerns of tighter oil and gas supply. In addition to oil companies, shares of defence companies rose too. Shares of BAE Systems, Britain's biggest defence company jumped by 5.3 per cent "Investors will be looking at defence stocks and thinking about the potential that governments will look to increase their spend on weapons and on military hardware," said Danni Hewson, financial analyst at AJ Bell. Hewson was quoted by Reuters. UK Prime Minister Liz Truss was another world leader who caused a stir in the markets. Housing stocks (.FTNMX402020) rose 3.3% after a report said that Truss will announce plans to cut the stamp duty on property tax in the government's mini-budget this week. Also Read | 'Will use all available means, this is not a bluff': Russia's Putin announces partial military mobilisation Markets are expecting the Bank of England to follow suit on Thursday, pricing in a 77% chance of a 75-basis-point increase in rates to 2.5%, and a 23% chance of a smaller 50-basis-point increase. "After what we saw in Sweden yesterday and what we're expecting to see from the Federal Reserve, it does put a great deal of pressure on the Bank of England," said Hewson. "Markets are not quite sure what to expect from the BoE because you've got the UK Government about to borrow a huge chunk of additional cash, the expectation that the economy is already in recession and a situation where the BoE cannot cut rates in order to stimulate economic growth because that will only lead to further inflationary pressures." (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Partial military mobilisation in Russia announcement makes oil, defence stocks surge

Since the breakout of the pandemic, a large number of people have entered the capital markets by the easily available technology which offers seamless online trading and investment platforms. Data proves that the number of demat accounts has&nbsp;almost doubled in the past 2 years.&nbsp;

There are several reasons for this superb growth. One is the high-speed internet and easy availability of technologically advanced platforms. One can open a demat and trading account faster than opening a bank account which just a few years ago used to take up to 5 working days. The cheaper brokerage or even ‘zero’ brokerage offered by brokerage houses has&nbsp;made&nbsp;the product more attractive.&nbsp;

Second and one of the main reasons is that these products are marketed-advertised in such a way that anyone can trade and make money from trading in the stock market and new age cryptocurrency market (which is to date not regulated by any laws of India nor any regulatory authority, like Sebi, has control over it).

The third reason is this.&nbsp;FOMO (Fear of missing out). Equity markets moved in one direction which is straight up, after hitting a low in the first phase of the corona pandemic, and during this time most of the people who entered the market made money without using any knowledge by going with the flow and this caused the FOMO effect among those who were missing this quick money-making streak. Teenagers especially entered the market in large numbers to make quick money. 

One of our professors once said, “Once you see money or value of something moving digitally on screen in large fluctuations, it will become hard not to get attracted by it. People&nbsp;will try their luck first just to see if they can make something out of it and then soon they get trapped in it.”

Social media frequently shows posts on Rakesh Jhunjhunwala, an ace Indian investor, and the wealth he created. But no one shows how he created it, what’s his&nbsp;background etc. He is a chartered accountant and has devoted his life to understanding the markets. Social media also shows how many people made money but won’t show how many lose everything in trading.

Recently, a top crypto fund filed for bankruptcy and a major trading platform of crypto suspended its operations. This doesn’t mean every platform and every fund will go out of business&nbsp;but those who joined the bandwagon blindly will face a similar fate for sure.

Is it that easy to make money out of trading in capital markets or from crypto? The plain and straight answer is NO. One has to learn something to apply the same in the practical world else that will just be a pure gamble, and in this case, one has to learn all the technical and fundamentals of capital markets before trading on their own.

There is no shortcut to making millions in quick succession. Warren Buffet, Charlie Mungar, Rakesh Jhunjhunwala, RK Damani, and all the successful investors and traders made money through hard work, knowledge, and dedication.

Learn and follow your dreams with the acquired knowledge.

(Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.)

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form">here</a>.

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Since the breakout of the pandemic, a large number of people have entered the capital markets by the easily available technology which offers seamless online trading and investment platforms.

Since the breakout of the pandemic, a large number of people have entered the capital markets by the easily available technology which offers seamless online trading and investment platforms. Data proves that the number of demat accounts has almost doubled in the past 2 years. There are several reasons for this superb growth. One is the high-speed internet and easy availability of technologically advanced platforms. One can open a demat and trading account faster than opening a bank account which just a few years ago used to take up to 5 working days. The cheaper brokerage or even ‘zero’ brokerage offered by brokerage houses has made the product more attractive. Second and one of the main reasons is that these products are marketed-advertised in such a way that anyone can trade and make money from trading in the stock market and new age cryptocurrency market (which is to date not regulated by any laws of India nor any regulatory authority, like Sebi, has control over it). The third reason is this. FOMO (Fear of missing out). Equity markets moved in one direction which is straight up, after hitting a low in the first phase of the corona pandemic, and during this time most of the people who entered the market made money without using any knowledge by going with the flow and this caused the FOMO effect among those who were missing this quick money-making streak. Teenagers especially entered the market in large numbers to make quick money. One of our professors once said, “Once you see money or value of something moving digitally on screen in large fluctuations, it will become hard not to get attracted by it. People will try their luck first just to see if they can make something out of it and then soon they get trapped in it.” Social media frequently shows posts on Rakesh Jhunjhunwala, an ace Indian investor, and the wealth he created. But no one shows how he created it, what’s his background etc. He is a chartered accountant and has devoted his life to understanding the markets. Social media also shows how many people made money but won’t show how many lose everything in trading. Recently, a top crypto fund filed for bankruptcy and a major trading platform of crypto suspended its operations. This doesn’t mean every platform and every fund will go out of business but those who joined the bandwagon blindly will face a similar fate for sure. Is it that easy to make money out of trading in capital markets or from crypto? The plain and straight answer is NO. One has to learn something to apply the same in the practical world else that will just be a pure gamble, and in this case, one has to learn all the technical and fundamentals of capital markets before trading on their own. There is no shortcut to making millions in quick succession. Warren Buffet, Charlie Mungar, Rakesh Jhunjhunwala, RK Damani, and all the successful investors and traders made money through hard work, knowledge, and dedication. Learn and follow your dreams with the acquired knowledge. (Disclaimer: The views of the writer do not represent the views of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Investing and Trading is not hard but requires maturity, knowledge and a bit of luck

Shares were mostly lower in Asia on Thursday as investors watched for fresh signs of inflation and crude oil prices hovered above USD 122 a barrel, adding to price pressures.

Benchmarks declined across the region, except in Tokyo, where a weakening yen sent issues of some Japanese exporters higher. Nintendo Co. Issues surged 1.9 per cent in afternoon trading, while Honda Motor Co. Stocks gained more than 0.9 per cent.

The Japanese yen has recently slid to fresh 20-year lows against the US dollar, a trend the International Monetary Fund and other analysts expect to continue for a while because of higher interest rates in the US and Europe, compared to Japan, where long-term interest rates remain at near-zero.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/dollar-gains-as-us-stocks-fall-ecb-decision-on-tap-486375">Dollar gains as US stocks fall, ECB decision on tap</a>

The dollar was trading at 133.80 Japanese yen after hitting 134 yen levels earlier in the day, down from 134.20 yen late Wednesday. The euro cost USD 1.0721, inching up from USD 1.0718.

The Governing Council of the European Central Bank is holding a monetary policy meeting later in the day.

Comments from Christine Lagarde, head of the European Central Bank, have markets anticipating an interest rate hike in July, with possibly more to follow.

"Nonetheless, the economic recovery remains fragile and subject to down side risks from geo-political risks, eroding real incomes, supply chain constraints and limited fiscal support",&nbsp;said Venkateswaran Lavanya of the Asia &amp; Oceania Treasury Department at Mizuho Bank in Singapore.

To that end, ECB will not want to throw the baby out with the bath water,&nbsp;calibrating monetary tightening in a more sustained, even if slow, pace,&nbsp;she said in a commentary.

Watch |&nbsp;Oil hovers near 13-week high, China optimism backs price surge

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Japan's benchmark Nikkei 225 gained 0.2 per cent in afternoon trading to 28,290.06. Australia's S&amp;P/ASX 200 slipped 1.2 per cent to 7,037.10. South Korea's Kospi fell 0.4 per cent to 2,616.46. Hong Kong's Hang Seng shed 1.0 per cent to 21,788.494, while the Shanghai Composite lost&nbsp;1.1 per cent to 3,228.08.

The impact from inflation has worsened since Russia's invasion of Ukraine, which has put more pressure on energy and food prices. US&nbsp;Crude oil prices rose 2.3 per cent on Wednesday and are up 63 per cent for the year, while wheat prices are up 39 per cent in 2022.

Supply chains have also gotten tighter following a series of lockdowns for Chinese cities fighting COVID-19 cases.

In energy trading, benchmark US crude was up 29 cents to USD 122.40 a barrel. It gained USD 2.70 on Wednesday.

Brent crude, the international standard for pricing oil, gained 35 cents to USD 123.93 a barrel.

Greater inflation pressure from the conflict in Ukraine and lockdowns in China prompted the Organisation for Economic Cooperation and Development to cut its forecast for economic growth, following several other international groups, including the World Bank.

Also read |&nbsp;<a href="https://www.wionews.com/south-asia/pakistani-rupee-nosedives-to-all-time-low-of-20283-against-us-dollar-486263">Pakistani rupee nosedives to all-time low of 202.83 against US dollar</a>

Treasury Secretary Janet Yellen, testifying before the the Senate Finance Committee on Tuesday, said she expects inflation to remain elevated and bringing that down is a top priority.&nbsp;

The Fed is widely expected to raise its key short-term interest rate by half a percentage point at its meeting next week.

That would be the second straight increase of double the usual amount, and investors expect a third in July.

Stocks fell broadly on Wall Street, erasing most of their gains for the week, as investors were discouraged to see more evidence of inflation's impact on businesses and another gloomy outlook on the global economy.

The S&amp;P 500 index fell 1.1 per cent to 4,115.77. The Dow Jones Industrial Average shed 0.8 per cent to 32,910.90 and the Nasdaq slipped 0.7 per cent to 12,086.27.

Smaller company stocks fell more than the rest of the market.

The Russell 2000 declined 1.5 per cent to 1,891.01.

Bond yields rose. The yield on the 10-year Treasury, which banks use to set rates on mortgages and other loans, rose to 3.02 per cent from 2.97 per cent late Tuesday.

The big concerns on Wall Street remain rising inflation and whether the Federal Reserve's shift to aggressively raise interest rates will help temper the impact or possibly push the economy into a recession.

The Fed's goal is to slow economic growth enough to cushion inflation's impact. Demand for goods had been outpacing supplies and production capacity through most of the post-pandemic recovery.

But, investors worry the Fed could go too far too fast in raising rates, nudging the US economy into a recession.

The next big update on inflation arrives Friday, when the US government releases its latest reading on the consumer price index.&nbsp; 
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Shares were mostly lower in Asia on Thursday as investors watched for fresh signs of inflation and crude oil prices hovered above USD 122 a barrel, adding to price pressures.

Shares were mostly lower in Asia on Thursday as investors watched for fresh signs of inflation and crude oil prices hovered above USD 122 a barrel, adding to price pressures. Benchmarks declined across the region, except in Tokyo, where a weakening yen sent issues of some Japanese exporters higher. Nintendo Co. Issues surged 1.9 per cent in afternoon trading, while Honda Motor Co. Stocks gained more than 0.9 per cent. The Japanese yen has recently slid to fresh 20-year lows against the US dollar, a trend the International Monetary Fund and other analysts expect to continue for a while because of higher interest rates in the US and Europe, compared to Japan, where long-term interest rates remain at near-zero. Also read | Dollar gains as US stocks fall, ECB decision on tap The dollar was trading at 133.80 Japanese yen after hitting 134 yen levels earlier in the day, down from 134.20 yen late Wednesday. The euro cost USD 1.0721, inching up from USD 1.0718. The Governing Council of the European Central Bank is holding a monetary policy meeting later in the day. Comments from Christine Lagarde, head of the European Central Bank, have markets anticipating an interest rate hike in July, with possibly more to follow. "Nonetheless, the economic recovery remains fragile and subject to down side risks from geo-political risks, eroding real incomes, supply chain constraints and limited fiscal support", said Venkateswaran Lavanya of the Asia & Oceania Treasury Department at Mizuho Bank in Singapore. To that end, ECB will not want to throw the baby out with the bath water, calibrating monetary tightening in a more sustained, even if slow, pace, she said in a commentary. Watch | Oil hovers near 13-week high, China optimism backs price surge Japan's benchmark Nikkei 225 gained 0.2 per cent in afternoon trading to 28,290.06. Australia's S&P/ASX 200 slipped 1.2 per cent to 7,037.10. South Korea's Kospi fell 0.4 per cent to 2,616.46. Hong Kong's Hang Seng shed 1.0 per cent to 21,788.494, while the Shanghai Composite lost 1.1 per cent to 3,228.08. The impact from inflation has worsened since Russia's invasion of Ukraine, which has put more pressure on energy and food prices. US Crude oil prices rose 2.3 per cent on Wednesday and are up 63 per cent for the year, while wheat prices are up 39 per cent in 2022. Supply chains have also gotten tighter following a series of lockdowns for Chinese cities fighting COVID-19 cases. In energy trading, benchmark US crude was up 29 cents to USD 122.40 a barrel. It gained USD 2.70 on Wednesday. Brent crude, the international standard for pricing oil, gained 35 cents to USD 123.93 a barrel. Greater inflation pressure from the conflict in Ukraine and lockdowns in China prompted the Organisation for Economic Cooperation and Development to cut its forecast for economic growth, following several other international groups, including the World Bank. Also read | Pakistani rupee nosedives to all-time low of 202.83 against US dollar Treasury Secretary Janet Yellen, testifying before the the Senate Finance Committee on Tuesday, said she expects inflation to remain elevated and bringing that down is a top priority. The Fed is widely expected to raise its key short-term interest rate by half a percentage point at its meeting next week. That would be the second straight increase of double the usual amount, and investors expect a third in July. Stocks fell broadly on Wall Street, erasing most of their gains for the week, as investors were discouraged to see more evidence of inflation's impact on businesses and another gloomy outlook on the global economy. The S&P 500 index fell 1.1 per cent to 4,115.77. The Dow Jones Industrial Average shed 0.8 per cent to 32,910.90 and the Nasdaq slipped 0.7 per cent to 12,086.27. Smaller company stocks fell more than the rest of the market. The Russell 2000 declined 1.5 per cent to 1,891.01. Bond yields rose. The yield on the 10-year Treasury, which banks use to set rates on mortgages and other loans, rose to 3.02 per cent from 2.97 per cent late Tuesday. The big concerns on Wall Street remain rising inflation and whether the Federal Reserve's shift to aggressively raise interest rates will help temper the impact or possibly push the economy into a recession. The Fed's goal is to slow economic growth enough to cushion inflation's impact. Demand for goods had been outpacing supplies and production capacity through most of the post-pandemic recovery. But, investors worry the Fed could go too far too fast in raising rates, nudging the US economy into a recession. The next big update on inflation arrives Friday, when the US government releases its latest reading on the consumer price index. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Asian shares fall as oil lingers above USD 120, yen sinks

Sorry Shakespeare, all IS in name. At least USD 26 billion are. Jack Ma, the Chinese e-commerce tycoon may have suffered a tiny hiccup if he checked his net worth on Tuesday. There was a drop in his wealth by USD 26 billion. This was caused due to&nbsp;rapid fall in share prices of Alibaba, Jack Ma's e-commerce behemoth. How? Why? Where? Read on.

Jack Ma has been at the receiving end of Chinese State's crackdown lately. The tech tycoon was also reported to have fallen out of favour with powerful Chinese politicians for some time.

It is perhaps why, when Chinese State broadcaster CCTV reported that 'Ma' was detained, markets shuddered. Alibaba is based in the city of Hangzou in China. The detainment of 'Ma' took place in this very city, reported media.

What followed was a share market bloodbath in which Alibaba lost USD 26 billion of its market value. Investors naturally scrambled to sell their shares fearing 'Ma's arrest spelled doom for the company.

Amid all the crazy frenzy, The Global Times' former Editor-in-Chief Hu Xijin clarified on China's Twitter-like platform Weibo that the person detained was a random guy with the surname 'Ma' and NOT Jack Ma, the tycoon.

The Global Times is a Chinese state-run tabloid. To further calm the frenzy, the tabloid said that the detained Ma was born in 1985 while it's a public knowledge that Jack Ma was born in 1964.

The clarification gave a filip to Alibaba's shares and the company recovered most of the loss by end of the day.

Decode the geostrategy, diplomacy, and ideologies of the world’s unending wars. Catch our special series ‘World at War’ every Saturday at 8:30 PM IST and Sunday at 10:30 PM IST only on WION.

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Sorry Shakespeare, all IS in name. At least USD 26 billion are. Jack Ma, the Chinese e-commerce tycoon may have suffered a tiny hiccup if he checked his net worth on Tuesday.

Sorry Shakespeare, all IS in name. At least USD 26 billion are. Jack Ma, the Chinese e-commerce tycoon may have suffered a tiny hiccup if he checked his net worth on Tuesday. There was a drop in his wealth by USD 26 billion. This was caused due to rapid fall in share prices of Alibaba, Jack Ma's e-commerce behemoth. How? Why? Where? Read on. Jack Ma has been at the receiving end of Chinese State's crackdown lately. The tech tycoon was also reported to have fallen out of favour with powerful Chinese politicians for some time. It is perhaps why, when Chinese State broadcaster CCTV reported that 'Ma' was detained, markets shuddered. Alibaba is based in the city of Hangzou in China. The detainment of 'Ma' took place in this very city, reported media. What followed was a share market bloodbath in which Alibaba lost USD 26 billion of its market value. Investors naturally scrambled to sell their shares fearing 'Ma's arrest spelled doom for the company. Amid all the crazy frenzy, The Global Times' former Editor-in-Chief Hu Xijin clarified on China's Twitter-like platform Weibo that the person detained was a random guy with the surname 'Ma' and NOT Jack Ma, the tycoon. The Global Times is a Chinese state-run tabloid. To further calm the frenzy, the tabloid said that the detained Ma was born in 1985 while it's a public knowledge that Jack Ma was born in 1964. The clarification gave a filip to Alibaba's shares and the company recovered most of the loss by end of the day. Decode the geostrategy, diplomacy, and ideologies of the world’s unending wars. Catch our special series ‘World at War’ every Saturday at 8:30 PM IST and Sunday at 10:30 PM IST only on WION. WATCH WION LIVE HERE ×

Random guy named Ma gets detained, Alibaba loses USD 26 billion

Citigroup, the US banking giant has said that one of its traders committed an error in the stock market "flash crash" in Europe, said local media reports.

An extremely fast fall in the price of one or more assets is called a flash crash. This is often caused by a trading mistake. After the flash crash, trading was halted in several share markets on Monday.

Nordic stocks were hit the hardest, while other European indexes also plummeted for a short time.

"This morning one of our traders made an error when inputting a transaction. Within minutes, we identified the error and corrected it," the New York-based bank said in a statement late on Monday.

The BBC said that the flash crash caused European shares to undergo a sudden fall on a day trading was particularly thin due to public holidays around the world.

Among the indexes, Stockholm OMX 30 share index in Sweden was one of the hardest hit. At one point, it fell 8 per cent. It later recovered most of these losses to end up 1.87 per cent lower at the end of the day.

Flash crashes can be caused by human error, or so-called "fat finger" trades - a reference to someone incorrectly typing the details of a trade.

In August 2012, a computer-trading glitch at US financial services firm Knight Capital caused a major stock market disruption, costing the company around $440 million.

A flash crash on the Singapore Exchange in October 2013 saw some stocks lose up to 87 per cent of their value and resulted in new regulations being put in place to avoid a repeat of the incident.

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Citigroup, the US banking giant has said that one of its traders committed an error in the stock market "flash crash" in Europe, said local media reports. An extremely fast fall in the price of one or more assets is called a flash crash.

Citigroup, the US banking giant has said that one of its traders committed an error in the stock market "flash crash" in Europe, said local media reports. An extremely fast fall in the price of one or more assets is called a flash crash. This is often caused by a trading mistake. After the flash crash, trading was halted in several share markets on Monday. Nordic stocks were hit the hardest, while other European indexes also plummeted for a short time. "This morning one of our traders made an error when inputting a transaction. Within minutes, we identified the error and corrected it," the New York-based bank said in a statement late on Monday. The BBC said that the flash crash caused European shares to undergo a sudden fall on a day trading was particularly thin due to public holidays around the world. Among the indexes, Stockholm OMX 30 share index in Sweden was one of the hardest hit. At one point, it fell 8 per cent. It later recovered most of these losses to end up 1.87 per cent lower at the end of the day. Flash crashes can be caused by human error, or so-called "fat finger" trades - a reference to someone incorrectly typing the details of a trade. In August 2012, a computer-trading glitch at US financial services firm Knight Capital caused a major stock market disruption, costing the company around $440 million. A flash crash on the Singapore Exchange in October 2013 saw some stocks lose up to 87 per cent of their value and resulted in new regulations being put in place to avoid a repeat of the incident. WATCH WION LIVE HERE ×

Citigroup trader's error caused 'flash crash' in European markets

Asian share markets mostly eased on Monday after stunningly strong US jobs data soothed concerns about the global economy but also added to the risk of an aggressive tightening by the Federal Reserve.

Asia shares slip as US jobs data fears over global recovery

More than 100 US lawmakers transacted around $290 million in stock transactions last year. Are they using unpublished information to beat the market? Are there no laws to regulate trading by legislators? Palki Sharma tells you.

Gravitas: Insider trading: US senators making millions

China's second-largest property developer by sales, Evergrande, slides into more financial trouble as it racks over $300 Billion worth of debt. Fitch, a major credit rating agency declares the firm a defaulter.

Evergrande investors protest outside the office & demand their money back

Stock markets across globe got a boost after the news of troubled Chinese real-estate firm Evergrande making&nbsp;a surprise offshore interest payment a day before the weekend deadline. Breach of the deadline would have seen Evergrande plunging into a formal default.

"Equity markets are back on the rise as investors shrug off their recent concerns," noted Geir Lode at investment manager Federated Hermes. He was quoted by AFP.

Evergrande is a major real estate firm in China and carries USD 300 billion&nbsp;in debt. It has missed several bond interest payment deadlines recently and fears of default has kept global investors on&nbsp;edge. Since real estate sector forms a major part of Chinese economy there are fears that Evergrande's default would spill into the global economy.

On Friday, Evergrande's share price jumped more than four percent in Hong Kong, though that came a day after a drop of more than 12 percent sparked by its announcement that the planned sale of its property services unit had fallen through.

Also Read | <a href="https://www.wionews.com/trending/harambe-the-gorillas-statue-stands-in-the-way-of-charging-bull-on-wall-street-422666">Harambe the gorilla's statue stands in the way of Charging Bull on Wall Street</a>

Hong Kong's benchmark Hang Seng index rose 0.4% and closed at 26,126.9 points. China's blue-chip CSI300 index closed at 0.6% higher, while the Shanghai Composite Index erased earlier gains to end the session 0.3% lower.

In Japan, The benchmark Nikkei 225 index added 0.34 percent or 96.27 points to 28,804.85, a weekly loss of 0.91 percent.

The broader Topix index edged up 0.07 percent or 1.42 points to 2,002.23. Over the week, it declined 1.07 percent.

Though interest payment by Evergrande gave brief respite market watchers said it was unlikely that the company would be able to repay all interest and that the rebound was likely to be limited.

(With inputs from agencies)

Stock markets across globe got a boost after the news of troubled Chinese real-estate firm Evergrande making a surprise offshore interest payment a day before the weekend deadline.

Stock markets across globe got a boost after the news of troubled Chinese real-estate firm Evergrande making a surprise offshore interest payment a day before the weekend deadline. Breach of the deadline would have seen Evergrande plunging into a formal default. "Equity markets are back on the rise as investors shrug off their recent concerns," noted Geir Lode at investment manager Federated Hermes. He was quoted by AFP. Evergrande is a major real estate firm in China and carries USD 300 billion in debt. It has missed several bond interest payment deadlines recently and fears of default has kept global investors on edge. Since real estate sector forms a major part of Chinese economy there are fears that Evergrande's default would spill into the global economy. On Friday, Evergrande's share price jumped more than four percent in Hong Kong, though that came a day after a drop of more than 12 percent sparked by its announcement that the planned sale of its property services unit had fallen through. Also Read | Harambe the gorilla's statue stands in the way of Charging Bull on Wall Street Hong Kong's benchmark Hang Seng index rose 0.4% and closed at 26,126.9 points. China's blue-chip CSI300 index closed at 0.6% higher, while the Shanghai Composite Index erased earlier gains to end the session 0.3% lower. In Japan, The benchmark Nikkei 225 index added 0.34 percent or 96.27 points to 28,804.85, a weekly loss of 0.91 percent. The broader Topix index edged up 0.07 percent or 1.42 points to 2,002.23. Over the week, it declined 1.07 percent. Though interest payment by Evergrande gave brief respite market watchers said it was unlikely that the company would be able to repay all interest and that the rebound was likely to be limited. (With inputs from agencies)

Surprise interest payment from Evergrande boosts global markets

In the latest blow to the developer whose massive debt woes have rattled global markets, shares of China Evergrande group slid as much as 14% today morning after a deal to sell a $2.6 billion stake in its property services unit fell through.

Shares of China Evergrande group slid as much as 14%

Despite fresh all-time highs on Wall Street, Asian stock markets opened lower today, as worries about China's slowing economic growth and regulatory changes weighed on investor sentiments. WION's Sumit Chaturvedi talks to Margaret Yang Yan, DailyFX strategist for more perspective.

World Business Watch: Fresh all time highs on wall street registered

At a time Indian markets are hovering around new peaks, we talk to experts to ask them if the markets are overvalued, is it a bubble waiting to burst, or is this a rally driven by strong fundamentals. We also ask experts about the potential of Indian unicorns that are trying to unlock value through the listing.

Are stock markets overvalued? Will it be easy to pass the market bubble?

Global markets are once again touching new highs, US markets are at a record high already. There are multiple risks that are being faced by economies as well. What is the outlook for global economies and what is the way ahead? Daily Effects Strategist from Asian Financial Hub Singapore, Margaret Yang Yen talks to WION on these issues.

Global stock markets likely to be range bound says Margaret Yang, Strategist DailyFX

The fading of economic pessimism across the world is bringing much-needed relief in the markets. From Japan to India, the stock markets are on an upswing today.

It was&nbsp;around the same time last year that&nbsp;nations world over had started implementing lockdowns to slow the spread of COVID-19 pandemic. And within a year, the stock markets have more than doubled in some regions including India.

On the first day of the third week of February, the stock markets today are once again at record high levels.

Global shares rose for the 11th day in a row to reach a peak with Japan's Nikkei touching 30,000 mark for the first time in more than three decades while India's Sensex also crossed 52,000 mark for the first time closing at 52,154.13 registering gains of 609.83 while Nifty 50 also gained 1% to end at 15,314.70. Backing the markets across the globe is the optimism about the rollout of COVID-19 vaccines and new fiscal aid from Washington.

The UK has already issued a first COVID-19 vaccine dose to more than 15 million people across its priority groups and the inoculation is being done in many parts of the world at a faster pace.

However, China, Taiwan and Hong Kong markets are closed for the Lunar New Year holiday today and US stock markets are also shut for the Presidents'&nbsp;Day holiday. So, this rally could be visible there once they open tomorrow.

Receiving a positive cue from their Asia-Pacific peers, the European stocks have opened in positive territory with backing from the successful vaccine rollouts that are fueling hopes of a global economic recovery.

The fading of economic pessimism across the world is bringing much-needed relief in the markets. From Japan to India, the stock markets are on an upswing today. It was around the same time last year that nations world over had started implementing lockdowns to slow the spread of COVID-19 pandemic.

The fading of economic pessimism across the world is bringing much-needed relief in the markets. From Japan to India, the stock markets are on an upswing today. It was around the same time last year that nations world over had started implementing lockdowns to slow the spread of COVID-19 pandemic. And within a year, the stock markets have more than doubled in some regions including India. On the first day of the third week of February, the stock markets today are once again at record high levels. Global shares rose for the 11th day in a row to reach a peak with Japan's Nikkei touching 30,000 mark for the first time in more than three decades while India's Sensex also crossed 52,000 mark for the first time closing at 52,154.13 registering gains of 609.83 while Nifty 50 also gained 1% to end at 15,314.70. Backing the markets across the globe is the optimism about the rollout of COVID-19 vaccines and new fiscal aid from Washington. The UK has already issued a first COVID-19 vaccine dose to more than 15 million people across its priority groups and the inoculation is being done in many parts of the world at a faster pace. However, China, Taiwan and Hong Kong markets are closed for the Lunar New Year holiday today and US stock markets are also shut for the Presidents' Day holiday. So, this rally could be visible there once they open tomorrow. Receiving a positive cue from their Asia-Pacific peers, the European stocks have opened in positive territory with backing from the successful vaccine rollouts that are fueling hopes of a global economic recovery.

Surging global stock markets mark fading of economic pessimism

Asian markets advanced again Wednesday as investors ignored a stall in Wall Street's rally, with eyes firmly on the long-term outlook for the global economy as lockdowns are eased and life slowly improves.

Falling infection rates, growing vaccination programmes and the prospects of a huge spending splurge by the US government within months continue to keep the mood on trading floors upbeat.

However, there remain worries that prices may have gone a little too far, which analysts said was capping any surge for now.

Declines in new cases, deaths and hospitalisation in major economies including the United States, Britain and Europe are fanning expectations they can begin opening up soon.

There is also apparently little concern about the emergence of new strains in parts of the world that some have warned could be more resistant to the vaccines.

"There is no evidence that new strains compromise protection against severe illness, and positive signs that consensus is shifting to re-opening once the most vulnerable are protected," said Stephen Innes at Axi.

Hong Kong led Wednesday's rally, piling on 1.8 percent above 30,000 thanks to a surge in Tencent and NetEase following news Chinese authorities had given the green light to their most eagerly awaited video games.

Shanghai also rose more than one percent as investors welcomed data showing China's factory gate prices rose for the first time in a year in January, indicating the economy was on a recovery track.

Gains in Tokyo were capped by news the Japanese government will keep containment measures in place for the time being.

Sydney, Seoul, Manila, Jakarta and Bangkok also rose but Mumbai, Singapore and Wellington fell slightly.

"Activity in Asia suggests that regional investors are not taking positioning off the boards ahead of the Lunar New Year holidays. If anything, it is precisely the opposite with Asian markets performing well" on Wednesday, said OANDA's Jeffrey Halley.

Investors brushed off a slight pullback in New York, where the Dow and S&amp;P 500 came off all-time highs, though the Nasdaq continued to another record.

Eyes on Biden stimulus push

But Mona Mahajan, at Allianz Global Investors, said some selling would be welcomed. "A pullback here could give tactical opportunities to those who were looking to get involved," she told Bloomberg TV.

"It seems like right now the story is just getting started, and the momentum is building behind it, and that story includes the reopening, vaccines, the downward trend now in some of the virus cases we've been seeing, supported by the stimulus talks and the Fed still on the sidelines."

Markets remain upbeat about the chances of Joe Biden pushing through his $1.9 trillion economic rescue package, and while there are warnings that the move -- along with an expected economic recovery -- will fan inflation, Federal Reserve officials were confident it would not be a long-term problem.

Biden said he was "optimistic" a bipartisan agreement could be passed and met top executives from leading companies including Walmart and JPMorgan Chase to shore up support.

However, with Republicans and some Democrats baulking at some parts of the proposal, including more than doubling the minimum wage, the final figure could be slightly lower -- some observers suggesting around $1.4 trillion.

Oil prices were flat, having risen for more than a week to 13-month highs thanks to bets that demand will surge as the world starts to look more normal. 
A drop in US inventories added to evidence that the commodity market is well on the road to recovery.

But Innes added: "That print will not dissuade oil prices from heating up further as Brent goes 'up, up and away', pushing through $61 and keeps climbing, floated higher by vaccine and stimulus balloons. Although I continue to view oil in overbought territory at these current levels and ripe for profit-taking."&nbsp;

Bitcoin was also struggling to push past $50,000 after this week's rally that came on the back of news that Elon Musk's electric carmaker Tesla had invested $1.5 billion in the cryptocurrency. 
The unit was hovering around $46,570, having topped out at $48,215 on Tuesday.

Key figures around 0710 GMT

Tokyo - Nikkei 225: UP 0.2 percent at 29,562.93 (close) 
Hong Kong - Hang Seng: UP 1.8 percent at 30,004.62 
Shanghai - Composite: UP 1.4 percent at 3,655.09 (close) 
Pound/dollar: UP at $1.3820 from $1.3813 at 2230 GMT 
Euro/dollar: UP at $1.2124 from $1.2116 
Euro/pound: UP at 87.73 pence from 87.71 pence 
Dollar/yen: UP at 104.59 yen from 104.58 yen&nbsp; 
Brent North Sea crude: FLAT at $61.11 per barrel 
West Texas Intermediate: DOWN 0.2 percent at $61.00 per barrel 
New York - Dow: DOWN 0.2 percent at $58.24 per barrel 
London - FTSE 100: UP 0.1 percent at 6,531.56 (close) 
&nbsp;

Asian markets advanced again Wednesday as investors ignored a stall in Wall Street's rally, with eyes firmly on the long-term outlook for the global economy as lockdowns are eased and life slowly improves.

Asian markets advanced again Wednesday as investors ignored a stall in Wall Street's rally, with eyes firmly on the long-term outlook for the global economy as lockdowns are eased and life slowly improves. Falling infection rates, growing vaccination programmes and the prospects of a huge spending splurge by the US government within months continue to keep the mood on trading floors upbeat. However, there remain worries that prices may have gone a little too far, which analysts said was capping any surge for now. Declines in new cases, deaths and hospitalisation in major economies including the United States, Britain and Europe are fanning expectations they can begin opening up soon. There is also apparently little concern about the emergence of new strains in parts of the world that some have warned could be more resistant to the vaccines. "There is no evidence that new strains compromise protection against severe illness, and positive signs that consensus is shifting to re-opening once the most vulnerable are protected," said Stephen Innes at Axi. Hong Kong led Wednesday's rally, piling on 1.8 percent above 30,000 thanks to a surge in Tencent and NetEase following news Chinese authorities had given the green light to their most eagerly awaited video games. Shanghai also rose more than one percent as investors welcomed data showing China's factory gate prices rose for the first time in a year in January, indicating the economy was on a recovery track. Gains in Tokyo were capped by news the Japanese government will keep containment measures in place for the time being. Sydney, Seoul, Manila, Jakarta and Bangkok also rose but Mumbai, Singapore and Wellington fell slightly. "Activity in Asia suggests that regional investors are not taking positioning off the boards ahead of the Lunar New Year holidays. If anything, it is precisely the opposite with Asian markets performing well" on Wednesday, said OANDA's Jeffrey Halley. Investors brushed off a slight pullback in New York, where the Dow and S&P 500 came off all-time highs, though the Nasdaq continued to another record. Eyes on Biden stimulus push But Mona Mahajan, at Allianz Global Investors, said some selling would be welcomed. "A pullback here could give tactical opportunities to those who were looking to get involved," she told Bloomberg TV. "It seems like right now the story is just getting started, and the momentum is building behind it, and that story includes the reopening, vaccines, the downward trend now in some of the virus cases we've been seeing, supported by the stimulus talks and the Fed still on the sidelines." Markets remain upbeat about the chances of Joe Biden pushing through his $1.9 trillion economic rescue package, and while there are warnings that the move -- along with an expected economic recovery -- will fan inflation, Federal Reserve officials were confident it would not be a long-term problem. Biden said he was "optimistic" a bipartisan agreement could be passed and met top executives from leading companies including Walmart and JPMorgan Chase to shore up support. However, with Republicans and some Democrats baulking at some parts of the proposal, including more than doubling the minimum wage, the final figure could be slightly lower -- some observers suggesting around $1.4 trillion. Oil prices were flat, having risen for more than a week to 13-month highs thanks to bets that demand will surge as the world starts to look more normal. A drop in US inventories added to evidence that the commodity market is well on the road to recovery. But Innes added: "That print will not dissuade oil prices from heating up further as Brent goes 'up, up and away', pushing through $61 and keeps climbing, floated higher by vaccine and stimulus balloons. Although I continue to view oil in overbought territory at these current levels and ripe for profit-taking." Bitcoin was also struggling to push past $50,000 after this week's rally that came on the back of news that Elon Musk's electric carmaker Tesla had invested $1.5 billion in the cryptocurrency. The unit was hovering around $46,570, having topped out at $48,215 on Tuesday. Key figures around 0710 GMT Tokyo - Nikkei 225: UP 0.2 percent at 29,562.93 (close) Hong Kong - Hang Seng: UP 1.8 percent at 30,004.62 Shanghai - Composite: UP 1.4 percent at 3,655.09 (close) Pound/dollar: UP at $1.3820 from $1.3813 at 2230 GMT Euro/dollar: UP at $1.2124 from $1.2116 Euro/pound: UP at 87.73 pence from 87.71 pence Dollar/yen: UP at 104.59 yen from 104.58 yen Brent North Sea crude: FLAT at $61.11 per barrel West Texas Intermediate: DOWN 0.2 percent at $61.00 per barrel New York - Dow: DOWN 0.2 percent at $58.24 per barrel London - FTSE 100: UP 0.1 percent at 6,531.56 (close)

Asian markets push higher as traders focus on recovery outlook

Asian markets struck a hopeful tone on Thursday at a potential Brexit deal and economic recovery prospects Australia's S&amp;P/ASX 200 was up 0.78% in early trading, while Japan's Nikkei 225 futures were up 0.07%, and Hong Kong's Hang Seng index futures inched up 0.17%.

Investors cheered a potential Brexit trade deal between Britain and the European Union that raised hopes the estranged allies would avoid a turbulent economic rupture on New Year's Day.

"The framework for a Brexit trade deal gave investors the green light to start buying everything in Europe," said Edward Moya, Senior Market Analyst, at OANDA in New York. He was quoted by Reuters.

A potential Brexit deal also boosted sterling, which went up 0.13% against the dollar at $1.3509 after closing up 0.9%. The pound also rose after Francen lifted ban on freight coming from Britain.

Wall Street ended mostly higher, with the Dow Jones Industrial Average closing up 0.38% and the S&amp;P 500 edging 0.07% higher. The Nasdaq Composite declined 0.29%.

A raft of mixed U.S. economic data showed lower jobless claims and an uptick in new orders for durable goods, but also a pullback in consumer spending, falling personal income and fading sentiment as the holiday shopping season nears its end amid a resurgent pandemic.

Investors largely shrugged off comments by President Trump saying a nearly $900 billion stimulus bill, agreed upon after months of wrangling in Congress, was "a disgrace" that he might not sign. Trump said he wanted to increase "ridiculously low" $600 payments for individuals to $2,000, in a video posted to Twitter.

"Risk-on sentiment is guiding markets so far today and it appears to be weighted more toward possible optimism toward a Brexit deal and the cherry-picked parts of U.S. releases, rather than Trump's reckless antics over signing the stimulus and funding bill," said Derek Holt, head of capital markets Economics at Scotiabank.

Oil prices settled more than 2% higher as draws in U.S. inventories of crude, gasoline and distillates lifted investors' hopes for some return in fuel demand

(With Reuters inputs)

Asian markets struck a hopeful tone on Thursday at a potential Brexit deal and economic recovery prospects Australia's S&P/ASX 200 was up 0.78% in early trading, while Japan's Nikkei 225 futures were up 0.

Asian markets struck a hopeful tone on Thursday at a potential Brexit deal and economic recovery prospects Australia's S&P/ASX 200 was up 0.78% in early trading, while Japan's Nikkei 225 futures were up 0.07%, and Hong Kong's Hang Seng index futures inched up 0.17%. Investors cheered a potential Brexit trade deal between Britain and the European Union that raised hopes the estranged allies would avoid a turbulent economic rupture on New Year's Day. "The framework for a Brexit trade deal gave investors the green light to start buying everything in Europe," said Edward Moya, Senior Market Analyst, at OANDA in New York. He was quoted by Reuters. A potential Brexit deal also boosted sterling, which went up 0.13% against the dollar at $1.3509 after closing up 0.9%. The pound also rose after Francen lifted ban on freight coming from Britain. Wall Street ended mostly higher, with the Dow Jones Industrial Average closing up 0.38% and the S&P 500 edging 0.07% higher. The Nasdaq Composite declined 0.29%. A raft of mixed U.S. economic data showed lower jobless claims and an uptick in new orders for durable goods, but also a pullback in consumer spending, falling personal income and fading sentiment as the holiday shopping season nears its end amid a resurgent pandemic. Investors largely shrugged off comments by President Trump saying a nearly $900 billion stimulus bill, agreed upon after months of wrangling in Congress, was "a disgrace" that he might not sign. Trump said he wanted to increase "ridiculously low" $600 payments for individuals to $2,000, in a video posted to Twitter. "Risk-on sentiment is guiding markets so far today and it appears to be weighted more toward possible optimism toward a Brexit deal and the cherry-picked parts of U.S. releases, rather than Trump's reckless antics over signing the stimulus and funding bill," said Derek Holt, head of capital markets Economics at Scotiabank. Oil prices settled more than 2% higher as draws in U.S. inventories of crude, gasoline and distillates lifted investors' hopes for some return in fuel demand (With Reuters inputs)

Asian markets rise at the prospect of a Brexit deal

Stock markets gained on Wednesday, as news of a working COVID-19 vaccine seemed to inoculate investors against worry about surging infections in Europe and the United States, while the kiwi rose as traders thought the central bank sounded upbeat.

Global stocks up as vaccine shields against second-wave worries

News of a breakthrough in the race to find a COVID-19 vaccine sparked one of the heaviest trading days since the height of the pandemic crisis, according to early data analysed by Reuters, with nearly $2 trillion (1.51 trillion pounds) changing hands on Monday.

Nearly $2 trillion traded on COVID-19 vaccine news

Diwali 2020 is just around the corner and as the country prepares to welcome the festive times, stock exchanges are gearing up for Muhurat Trading. Stock exchanges open for one hour on the day of Diwali for a symbolic trade that goes on for around an hour. The usual hustle-bustle and aggressive investor behaviour is seldom seen in this symbolic trading hour. It is believed by many that if you trade stocks during Muhurat trading, good luck follows you for the rest of the year till next Diwali. Here are few key things you need to know about Muhurat Trading 2020

When is Muhurat Trading this year?

It is usually held in the most auspicious hour on the day of Diwali. This year Diwali is falling on November 14. The Muhurat Trading will be carried out between 6:15 pm to 7:15 pm on the day

Who decides the time of the Muhurat trading?

Stock exchanges specify the time. During this hour, live trading takes place.

 
What is the schedule of Muhurat Trading 2020 session?

Here is how the time around Muhurat Trading is allotted

5.45 pm to 6 pm: Block deal session 
6 pm to 6.08 pm: Pre-opening 
6.15 pm to 7.15 pm: Muhurat trading 
6.20 pm to 7.05 pm: Periodic call auction 
7.15 pm to 7.30 pm: Closing session

Trade modification cut-off time is till 7:45 pm

How does market behave during Muhurat Trading?&nbsp;

Historically, markets have remained positive during the symbolic trading session. However, trading volume has been low. Stock movements tend to below as well.

Diwali 2020 is just around the corner and as the country prepares to welcome the festive times, stock exchanges are gearing up for Muhurat Trading. Stock exchanges open for one hour on the day of Diwali for a symbolic trade that goes on for around an hour.

Diwali 2020 is just around the corner and as the country prepares to welcome the festive times, stock exchanges are gearing up for Muhurat Trading. Stock exchanges open for one hour on the day of Diwali for a symbolic trade that goes on for around an hour. The usual hustle-bustle and aggressive investor behaviour is seldom seen in this symbolic trading hour. It is believed by many that if you trade stocks during Muhurat trading, good luck follows you for the rest of the year till next Diwali. Here are few key things you need to know about Muhurat Trading 2020 When is Muhurat Trading this year? It is usually held in the most auspicious hour on the day of Diwali. This year Diwali is falling on November 14. The Muhurat Trading will be carried out between 6:15 pm to 7:15 pm on the day Who decides the time of the Muhurat trading? Stock exchanges specify the time. During this hour, live trading takes place. What is the schedule of Muhurat Trading 2020 session? Here is how the time around Muhurat Trading is allotted 5.45 pm to 6 pm: Block deal session 6 pm to 6.08 pm: Pre-opening 6.15 pm to 7.15 pm: Muhurat trading 6.20 pm to 7.05 pm: Periodic call auction 7.15 pm to 7.30 pm: Closing session Trade modification cut-off time is till 7:45 pm How does market behave during Muhurat Trading? Historically, markets have remained positive during the symbolic trading session. However, trading volume has been low. Stock movements tend to below as well.

Diwali 2020 Muhurat Trading: Here is what you need to know

India: Sensex trading above 43,500 mark

Nikkei rises 1.1 per cent to nine-month top, South Korean index gains 1.5 per cent.

Asian shares rally to near 3-year high

World stocks moved higher on Wednesday despite the US election outcome being clouded by huge uncertainty that could end up in court.

Wall Street opened with gains as both President Donald Trump and Democratic challenger Joe Biden still had a path of victory with a handful of states still up for grabs.

The Dow climbed&nbsp;0.9 percent while the broader S&amp;P 500&nbsp;rose 1.6 percent and the tech-heavy Nasdaq Composite jumped 2.7 percent.

European stock markets, which opened sharply lower after President&nbsp;Donald Trump said he would go to the Supreme Court to dispute the US vote count, turned higher in late morning deals and in afternoon trading they were all posting gains of over 1 percent.

Around 1330 GMT, London's benchmark FTSE 100 index was up 1.0 percent, while the pound fell 0.7 percent against the dollar.

In the eurozone, the Frankfurt stock market&nbsp;rose 0.9&nbsp;percent and Paris climbed 1.3 percent.

The euro was down around a tenth of a percent versus the dollar, while oil prices surged over 2 percent.

Asian indices mostly closed up but that was ahead of Trump declaring he would dispute the election.

<a href="https://www.wionews.com/world/us-election-2020-result-live-update-donald-trump-joe-biden-votes-tally-president-predictions-begins-vote-count-how-to-follow-the-2020-us-election-results-from-india-Trump-wins-Kentucky-joe-Biden-Vermont-340293">Click here for latest on US Election 2020</a>

The US election was plunged into chaos early Wednesday as Trump prematurely declared victory and sought Supreme Court intervention to stop vote-counting -- &nbsp;even as his Democratic rival Joe Biden voiced confidence in his own chances.

"With Donald Trump already claiming victory even though millions of votes are still uncounted, investors may have to belt up and brace themselves for some volatile sessions of trading ahead," noted Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.

In a divisive election cast under the shadow of the coronavirus pandemic that has claimed more than 230,000 lives in the United States, Trump appeared to have avoided a Democratic wave predicted by some polls but he still needs key states to secure another four-year term.

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"The polls got it wrong," said OANDA analyst Edward Moya. "Wall Street hoped for election certainty and what they will end up getting over the next couple days is recounts and lawsuits."

Biden's White House campaign slammed Trump's threat to try to stop the election vote count as "outrageous", saying its legal team was ready to prevent such an "unprecedented" act.

'Nightmare situation'

"The US election has become a mess," said Naeem Aslam, chief market analyst at Avatrade.

"Basically, we are seeing a nightmare situation come true because now we are talking about legal battles. This uncertainty is going to keep traders on edge."

Also Read | <a href="https://www.wionews.com/photos/us-election-2020-historical-firsts-in-the-presidential-election-340498#four-consecutive-two-term-presidencies-340478">US election 2020: Historical firsts in the presidential election</a>

Aslam added that investors still saw the dollar as a safe bet amid the volatility on stock markets.

Before Wednesday's shock turn of events, world equities had rallied this week as traders piled bets on Biden winning, with opinion polls showing him with a big national lead though with slim advantages in battleground states.

While Tuesday was formally Election Day, in reality, Americans have been voting for weeks. The Covid-19 pandemic caused a huge expansion in mail-in and early voting, and nearly 100 million people had already cast their ballots.

While a failure for Biden and the Democrats would jolt markets, the general consensus is that whoever wins will still push through a major stimulus package for the struggling US economy as it battles the virus.

Key figures around 1330 GMT

New York - Dow: UP 0.9&nbsp;percent at 27,731.20

London - FTSE 100: UP 1.0 percent at 5,842.38 points

Frankfurt - DAX 30: UP 0.9 percent at 12,195.65

Paris - CAC 40: UP 1.3 percent at 4,866.88

EURO STOXX 50: UP 0.9 percent at 3,125.44

Tokyo - Nikkei 225: UP 1.7 percent at 23,695.23 (close)

Hong Kong - Hang Seng: DOWN 0.2 percent at 24,886.14 (close)

Shanghai - Composite: UP 0.2 percent at 3,277.44 (close)

Euro/dollar: DOWN at $1.1701 from $1.1711 at 2115 GMT

Dollar/yen: UP at 104.48 yen from 104.52 yen

Pound/dollar: DOWN at $1.2964 from $1.3035

Euro/pound: UP at 90.25 pence from 89.82 pence

West Texas Intermediate: UP 2.3 percent at $38.53 per barrel

Brent North Sea crude: UP 2.3 percent at $40.64 per barrel

World stocks moved higher on Wednesday despite the US election outcome being clouded by huge uncertainty that could end up in court. Wall Street opened with gains as both President Donald Trump and Democratic challenger Joe Biden still had a path of victory with a handful of states still up for grabs.

World stocks moved higher on Wednesday despite the US election outcome being clouded by huge uncertainty that could end up in court. Wall Street opened with gains as both President Donald Trump and Democratic challenger Joe Biden still had a path of victory with a handful of states still up for grabs. The Dow climbed 0.9 percent while the broader S&P 500 rose 1.6 percent and the tech-heavy Nasdaq Composite jumped 2.7 percent. European stock markets, which opened sharply lower after President Donald Trump said he would go to the Supreme Court to dispute the US vote count, turned higher in late morning deals and in afternoon trading they were all posting gains of over 1 percent. Around 1330 GMT, London's benchmark FTSE 100 index was up 1.0 percent, while the pound fell 0.7 percent against the dollar. In the eurozone, the Frankfurt stock market rose 0.9 percent and Paris climbed 1.3 percent. The euro was down around a tenth of a percent versus the dollar, while oil prices surged over 2 percent. Asian indices mostly closed up but that was ahead of Trump declaring he would dispute the election. Click here for latest on US Election 2020 The US election was plunged into chaos early Wednesday as Trump prematurely declared victory and sought Supreme Court intervention to stop vote-counting -- even as his Democratic rival Joe Biden voiced confidence in his own chances. "With Donald Trump already claiming victory even though millions of votes are still uncounted, investors may have to belt up and brace themselves for some volatile sessions of trading ahead," noted Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown. In a divisive election cast under the shadow of the coronavirus pandemic that has claimed more than 230,000 lives in the United States, Trump appeared to have avoided a Democratic wave predicted by some polls but he still needs key states to secure another four-year term. × "The polls got it wrong," said OANDA analyst Edward Moya. "Wall Street hoped for election certainty and what they will end up getting over the next couple days is recounts and lawsuits." Biden's White House campaign slammed Trump's threat to try to stop the election vote count as "outrageous", saying its legal team was ready to prevent such an "unprecedented" act. 'Nightmare situation' "The US election has become a mess," said Naeem Aslam, chief market analyst at Avatrade. "Basically, we are seeing a nightmare situation come true because now we are talking about legal battles. This uncertainty is going to keep traders on edge." Also Read | US election 2020: Historical firsts in the presidential election Aslam added that investors still saw the dollar as a safe bet amid the volatility on stock markets. Before Wednesday's shock turn of events, world equities had rallied this week as traders piled bets on Biden winning, with opinion polls showing him with a big national lead though with slim advantages in battleground states. While Tuesday was formally Election Day, in reality, Americans have been voting for weeks. The Covid-19 pandemic caused a huge expansion in mail-in and early voting, and nearly 100 million people had already cast their ballots. While a failure for Biden and the Democrats would jolt markets, the general consensus is that whoever wins will still push through a major stimulus package for the struggling US economy as it battles the virus. Key figures around 1330 GMT New York - Dow: UP 0.9 percent at 27,731.20 London - FTSE 100: UP 1.0 percent at 5,842.38 points Frankfurt - DAX 30: UP 0.9 percent at 12,195.65 Paris - CAC 40: UP 1.3 percent at 4,866.88 EURO STOXX 50: UP 0.9 percent at 3,125.44 Tokyo - Nikkei 225: UP 1.7 percent at 23,695.23 (close) Hong Kong - Hang Seng: DOWN 0.2 percent at 24,886.14 (close) Shanghai - Composite: UP 0.2 percent at 3,277.44 (close) Euro/dollar: DOWN at $1.1701 from $1.1711 at 2115 GMT Dollar/yen: UP at 104.48 yen from 104.52 yen Pound/dollar: DOWN at $1.2964 from $1.3035 Euro/pound: UP at 90.25 pence from 89.82 pence West Texas Intermediate: UP 2.3 percent at $38.53 per barrel Brent North Sea crude: UP 2.3 percent at $40.64 per barrel

US stocks open higher despite US vote uncertainty

Global markets and rebounding from huge losses caused by coronavirus pandemic, Asian Equities are mostly firm today after a strong wall street session. Watch report.

Recovery in Asian markets: Japanese Yen strengthened by 0.60%

The Asian shares made a cautious start today morning as investors kept an eye on flaring tensions between US and China. Watch report

Asian Shares | Australian shares recover Friday's losses

The market recorded gains for the second continuous week ending on April 17. There are expectations that infections may be peaking in Europe and that the US may ease the lockdown of business as the number of reported cases is declining daily.

Coronavirus Pandemic: Indian markets open with gain

Asian equities fell for a second session today after a warning about the US coronavirus death toll that has investors looking at the safety of dollars and bonds.

Indian markets shut today: Asian stocks slip on fresh virus warning

The longest-running US stock market bull in history is now over, with the coronavirus outbreak proving severe by the end of 11 years of an almost unprecedented financial crisis.

Global market seems to "nose-dive" by the COVID-19 fear

The global stock market continued its recession on Friday amid panic created by the outbreak of the novel coronavirus.

Big blow to global stock market by COVID-19, India halts trading for 45 minutes

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