global economy - updates

Rappler's latest stories on global economy

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Nasdaq ends at fresh records as European bourses retreat

Jul 02, 2020 - 9:00 AM

The Nasdaq rises 1% on Wednesday, July 1, even as the United States confronts a worsening coronavirus outbreak in much of the country

A view of the New York Stock Exchange (NYSE) is seen at Wall Street on June 29, 2020 in New York City. - Stock markets on both sides of the Atlantic struggled Monday to rebound from last week's losses as optimism over easing lockdowns was torpedoed by fear over surging coronavirus infections. (Photo by Angela Weiss / AFP)

U.S. stocks tumble, Europe wavers as coronavirus advances

Jun 27, 2020 - 8:45 AM

Major United States indices fall around 2.5% or more on Friday, June 26, to finish the week in the red

'TOGETHER, WE'RE STRONG.' The New York Stock Exchange is pictured at Wall Street in New York City on May 26, 2020. Photo by Johannes Eisele/AFP

Stocks make modest recovery despite virus worries

Jun 26, 2020 - 8:30 AM

European markets hold onto their gains until the close, while Wall Street engineers a strong finale to a roller-coaster session on Thursday, June 25

STOCK EXCHANGE. The Fearless Girl statue stands in front of the New York Stock Exchange near Wall Street in New York City on March 23, 2020. Photo by Angela Weiss/AFP

Market 'disconnect' could worsen virus downturn – IMF

Jun 25, 2020 - 11:25 PM

'Investors seem to be betting that lasting strong support from central banks will sustain a quick recovery even as economic data point to a deeper-than-expected downturn,' says the International Monetary Fund

JAPAN STOCKS. Pedestrians walk past an electronic quotation board displaying share prices of the Tokyo Stock Exchange in Tokyo on June 15, 2020. Photo by Kazuhiro Nogi/AFP

Coronavirus crisis exacerbates globalization worries – IMF economist

Jun 25, 2020 - 11:00 AM

International Monetary Fund chief economist Gita Gopinath urges countries to be 'collaborative' amid the global crisis

Shoppers wear walk outside a shopping mall in Kuala Lumpur on May 28, 2020, as sectors of the economy are being reopened following restrictions to halt the spread of the COVID-19 coronavirus. (Photo by Mohd RASFAN / AFP)

Stocks slump on virus, trade war concerns

Jun 25, 2020 - 8:40 AM

European bourses dive around 3%, while the Dow sheds 2.7% or more than 700 points on Wednesday, June 24

TRADING. The Wall Street street sign is seen in New York City on March 23, 2020. File photo by Angela Weiss/AFP

Amid grim outlook, IMF says things could get better, or worse

Jun 24, 2020 - 10:20 PM

(UPDATED) The International Monetary Fund acknowledges the high levels of uncertainty as the coronavirus pandemic ravages the global economy

Children sell facemasks on a street after the government eased a nationwide lockdown imposed as a preventive measure against the COVID-19 coronavirus, in Rawalpindi on May 16, 2020. (Photo by Farooq NAEEM / AFP)

Coronavirus sinks global economy in 2020, collapsing GDP 4.9% – IMF

Jun 24, 2020 - 10:00 PM

(UPDATED) The International Monetary Fund estimates the coronavirus crisis will destroy $12 trillion over two years, leaving lasting scars on employment, businesses, and trade

An employee clears a tray at a food court in The Shoppes at Marina Bay Sands shopping mall in Singapore on June 19, 2020 as retail shops reopen in Singapore following the further easing of restrictions that were in place due to the COVID-19 novel coronavirus. (Photo by Roslan RAHMAN / AFP)

Global stocks rise on better economic data as U.S. coronavirus cases rise

Jun 24, 2020 - 8:00 AM

The main European markets gain more than 1%, while Wall Street stocks also power higher on Tuesday, June 23

TRADING. The United States flag is seen at the New York Stock Exchange in New York City on April 30, 2020. Photo by Johannes Eisele/AFP

Global stocks mixed as coronavirus cases rise in several countries

Jun 23, 2020 - 8:30 AM

European and Asian stocks are down on Monday, June 22, but Wall Street ultimately shrugs off the weakness as New York City moves to a new phase of reopening

WALL STREET. A woman walks past the New York Stock Exchange in New York City on March 19, 2020. Photo by Johannes Eisele/AFP

World stocks pull back as virus worries resurface

Jun 19, 2020 - 7:00 AM

Global markets are still 'a bit cautious as uncertainty regarding a second wave of COVID-19 continues to simmer, countering recent economic data that has suggested improvement'

WALL STREET. A view of the New York Stock Exchange is seen on Wall Street in New York City on March 23, 2020. File photo by Angela Weiss/AFP

Service-dependent economies feel coronavirus pain – IMF

Jun 16, 2020 - 10:35 PM

Advanced and emerging market economies are seeing a larger impact in services, says International Monetary Fund chief economist Gita Gopinath

REOPENING. A staff member wearing a face mask works at the welcome desk of a hotel in central Athens on June 1, 2020, as Greece eases coronavirus measures. Photo by Louisa Gouliamaki/AFP

Spend more, keep receipts – IMF's Georgieva

Jun 16, 2020 - 12:30 PM

International Monetary Fund chief Kristalina Georgieva warns countries not to withdraw stimulus measures 'too quickly'

IMF. In this file photo taken on September 4, 2018, the logo of the International Monetary Fund is seen at the IMF headquarters in Washington, DC. Photo by Jim Watson/AFP

Virus fears weigh on European, Asian stocks, but Fed boosts Wall Street

Jun 16, 2020 - 7:50 AM

A fresh coronavirus outbreak in Beijing comes as investors are already anxious over increased cases in Texas, Florida, and other US states

Pedestrians walk past an electronic quotation board displaying share prices of the Tokyo Stock Exchange in Tokyo on June 15, 2020. - Tokyo's benchmark Nikkei index dropped more than 3.4 percent on June 15 over fears of rising coronavirus infections in the US and a new outbreak in China. (Photo by Kazuhiro NOGI / AFP) / “The erroneous mention[s] appearing in the metadata of this photo by Kazuhiro NOGI has been modified in AFP systems in the following manner: [June 15] instead of [June 16]. Please immediately remove the erroneous mention[s] from all your online services and delete it (them) from your servers. If you have been authorized by AFP to distribute it (them) to third parties, please ensure that the same actions are carried out by them. Failure to promptly comply with these instructions will entail liability on your part for any continued or post notification usage. Therefore we thank you very much for all your attention and prompt action. We are sorry for the inconvenience this notification may cause and remain at your disposal for any further information you may require.”

Stock markets recover some ground after heavy losses

Jun 13, 2020 - 8:30 AM

Wall Street stocks finish a topsy-turvy session solidly higher on Friday, June 12, but lower for the week overall

TRADING. A view of the New York Stock Exchange is seen on Wall Street in New York City on March 23, 2020. Photo by Angela Weiss/AFP

Latin America passes 70,000 deaths as virus slashes global economy

Jun 11, 2020 - 9:04 AM

Brazil accounts for almost 40,000 – or more than half – of Latin America's total deaths, registering 1,274 fatalities in the last 24 hours

Brazilian health workers protest against working conditions and wage delays in front of the Ministry of Health in Brasilia, on May 21, 2020, amid the COVID-19 corovavirus pandemic. - Brazilian opposition parties filed an impeachment request against Bolsonaro at the Lower House. (Photo by EVARISTO SA / AFP)

U.S. stocks end mostly down as Fed keeps interest rates low

Jun 11, 2020 - 8:50 AM

Both the Dow and S&P 500 finish lower following a volatile session, while the Nasdaq surges to its 3rd straight record on Wednesday, June 10

U.S. ECONOMY. An American flag hangs from a building in the Financial District of Manhattan in New York City on September 3, 2019. File photo by Spencer Platt/Getty Images/AFP

Virus to slice at least 6% off world economy – OECD

Jun 10, 2020 - 11:45 PM

The Organisation for Economic Co-operation and Development says the global economy could shrink by as much as 7.6% if a second wave of contagion happens later in the year

CORONAVIRUS TESTING. Sample testing devices are checked on a production line as they are prepared to be included in testing kits for shipment at SD Biosensor near Cheongju, South Korea, on March 27, 2020. Photo by Ed Jones/AFP

Stock markets end mostly lower after strong run

Jun 10, 2020 - 7:00 AM

Dire corporate and economic news in the eurozone sparks selling in Europe on Tuesday, June 9. The Dow and S&P 500 also retreat.

TRADING. A view of the New York Stock Exchange is seen on Wall Street in New York City on March 23, 2020. Photo by Angela Weiss/AFP

Wall Street rallies on reopening hopes, Nasdaq hits record

Jun 09, 2020 - 7:25 AM

The tech-rich Nasdaq closes more than 100 points over its previous high in February, while the Dow finishes up 1.1% on Monday, June 8

WALL STREET. The statue of the charging bull is pictured in New York City on April 20, 2020. Photo by Johannes Eisele/AFP

Pandemic drives broadest economic collapse in 150 years – World Bank

Jun 08, 2020 - 11:25 PM

(3rd UPDATE) The World Bank sees the global economy shrinking by 5.2% in 2020, with the coronavirus pandemic to drive up to 100 million people into extreme poverty

Robert King Geiser, 35 years-old, after 2 years living on the street, stands outside his tent next to the 110 Freeway, during the novel Coronavirus, COVID-19, pandemic in Los Angeles California on May 25, 2020. - On May 22, 2020 a federal judge issued a preliminary order requiring that homeless people living under Los Angeles freeway overpasses and underpasses, be relocated for health and safety reasons. (Photo by Apu GOMES / AFP)

Stock markets power ahead on surprise U.S. jobs rise

Jun 06, 2020 - 7:25 AM

The Dow piles on around 830 points, or 3.2%, to finish at 27,110.98 on Friday, June 5

STOCK EXCHANGE. The Fearless Girl statue stands in front of the New York Stock Exchange near Wall Street in New York City on March 23, 2020. Photo by Angela Weiss/AFP

Funding shortfall hinders pandemic response – World Bank chief

Jun 02, 2020 - 10:15 PM

What keeps World Bank President David Malpass up at night? 'Not enough resources,' he says.

LOCKDOWN. A young boy sells face masks beside a closed shop during a nationwide lockdown in Lahore, Pakistan, on April 6, 2020. Photo by Arif Ali/AFP

Global stocks rise despite protests, U.S.-China tensions

Jun 02, 2020 - 7:00 AM

Analysts say markets have historically shrugged off civil disruptions

TRADING. The Wall Street street sign is seen in New York City on March 23, 2020. File photo by Angela Weiss/AFP

U.S. stocks sag on China tensions as Europe rises on restarts

May 29, 2020 - 7:30 AM

Stocks pull back in the United States on Thursday, May 28, as tensions rise between the US and China

WALL STREET. A woman walks past the New York Stock Exchange in New York City on March 19, 2020. Photo by Johannes Eisele/AFP

World Bank warns pandemic could push 60 million into extreme poverty

May 20, 2020 - 9:10 AM

The coronavirus pandemic could erase 'all the progress made in poverty alleviation in the past 3 years'

A resident of Plot 323 in Wilgespruit, Johannesburg, pauses on May 08, 2020 in front of a wooden shack during a ministerial visit aimed to ensure that the vulnerable residents of the informal settlement are soon properly accommodated in temporary residential units. (Photo by MARCO LONGARI / AFP)

European, U.S. stocks pull back after May 18 rally

May 20, 2020 - 7:20 AM

The Dow Jones Industrial Average finishes down 1.6% on Tuesday, May 19, pulling back from the 3.9% surge on Monday, May 18

WALL STREET. A view of the New York Stock Exchange is seen on Wall Street in New York City on March 23, 2020. File photo by Angela Weiss/AFP

Companies fear protracted slump – World Economic Forum

May 19, 2020 - 4:35 PM

(UPDATED) Company risk managers surveyed by the World Economic Forum fear an extended downturn and bankruptcies as a result of the coronavirus pandemic

LOCKDOWN. A woman crosses a road in front of closed shops on the outskirts of Moscow, Russia, on April 11, 2020. Photo by Kirill Kudryavtsev/AFP

Global stocks surge on vaccine progress, French-German relaunch plan

May 19, 2020 - 7:50 AM

Sentiment is boosted by an American firm reporting promising early results from a COVID-19 vaccine test, as well as an economic recovery plan proposed by France and Germany

TRADING. The United States flag is seen at the New York Stock Exchange in New York City on April 30, 2020. Photo by Johannes Eisele/AFP

Coronavirus could cost global economy $8.8 trillion – ADB

May 15, 2020 - 7:15 PM

$8.8 trillion would be equivalent to 9.7% of global gross domestic product

Migrant passengers from Sikkim state wait for transportation after they arrived from Chennai at New Jalpaiguri railway station, following the easing of the nationwide lockdown imposed as a preventive measure against the COVID-19 coronavirus, on the outskirts of Siliguri on May 14, 2020. (Photo by DIPTENDU DUTTA / AFP)

WTO chief to step down early as global economic crisis rages

May 15, 2020 - 8:00 AM

World Trade Organization Director-General Roberto Azevedo says his resignation, effective August 31, is a 'personal decision' reached with his family

World Trade Organization Director-General Roberto Azevedo arrives to speak to reporters on February 22, 2017 in Geneva after the body ratified its first-ever multilateral trade deal. Photo by Fabrice Coffrini / AFP

Global stocks mixed as U.S. jobless claims spike again

May 15, 2020 - 7:30 AM

Major European and Asian bourses extend losses, while United States stocks end higher on Thursday, May 14

WALL STREET. The statue of the charging bull is pictured in New York City on April 20, 2020. Photo by Johannes Eisele/AFP

Stocks slump on Fed comments, fears of second coronavirus wave

May 14, 2020 - 7:15 AM

Major United States indices end lower for a second straight session on Wednesday, May 13, while European stocks are also mauled

U.S. ECONOMY. An American flag hangs from a building in the Financial District of Manhattan in New York City on September 3, 2019. File photo by Spencer Platt/Getty Images/AFP

U.S. stocks retreat as top scientist urges caution on reopening

May 13, 2020 - 7:15 AM

Analysts say congressional testimony from American infectious diseases expert Anthony Fauci was likely a factor in the pullback

SELLING. Dressmaker Flor Hernandez sells face masks on street after losing her job, during the novel coronavirus outbreak, in Los Angeles, California. Photo by Apu Gomes/AFP

U, V, W or L? The alphabet soup of economic recovery scenarios

May 12, 2020 - 1:55 PM

How will different countries recover from the economic impact of the coronavirus pandemic? These are the scenarios.

Global stocks mixed amid fears of second virus wave

May 12, 2020 - 7:10 AM

While some European countries and US states are easing restrictions, there are fears of 'second wave' coronavirus outbreaks in parts of Asia

TRADING. A view of the New York Stock Exchange is seen on Wall Street in New York City on March 23, 2020. Photo by Angela Weiss/AFP

IMF more negative on global economic projections

May 09, 2020 - 8:50 AM

The International Monetary Fund notes that incoming economic data for many countries is even below the IMF's 'already pessimistic assessment'

WASHINGTON, DC - OCTOBER 08: New IMF Managing Director Kristalina Georgieva, speaks about the key issues to be addressed at the upcoming IMF / World Bank Annual Meetings, at the International Monetary Fund headquarters on October 8, 2019 in Washington, DC. Mark Wilson/Getty Images/AFP

Stocks rise as reopening optimism beats bad data

May 09, 2020 - 7:00 AM

The gains are the latest instance of markets looking at economic reports that are bad, but not significantly different than expected, and instead focusing on positive news

WALL STREET. People walk by the New York Stock Exchange in New York City on January 21, 2020. File photo by Spencer Platt/Getty Images/AFP

Stock markets rise on easing lockdowns, China exports

May 08, 2020 - 7:30 AM

Investors focus on hope for an economic rebound, despite 'dour data' emerging from countries hit hard by the coronavirus

WALL STREET. A woman walks past the New York Stock Exchange in New York City on March 19, 2020. Photo by Johannes Eisele/AFP

European, U.S. stocks mostly fall after weak data

May 07, 2020 - 6:35 AM

'The market seems to be running out of steam. We're starting to see some of the real negative macro news,' says an analyst

TRADING. The Wall Street street sign is seen in New York City on March 23, 2020. File photo by Angela Weiss/AFP

Stocks cheer 'light at end of tunnel' in virus crisis

May 06, 2020 - 7:30 AM

An analyst cautions that while a gradual return to economic activity would bring optimism, the long-term view is still grim

STOCK EXCHANGE. The Fearless Girl statue stands in front of the New York Stock Exchange near Wall Street in New York City on March 23, 2020. Photo by Angela Weiss/AFP

Global stocks mostly drop as Trump revives trade war fears

May 05, 2020 - 7:30 AM

Investors are rattled as the Trump administration steps up its criticism of China over the coronavirus

US President Donald Trump looks on as the US attorney general delivers remarks on citizenship and the census in the Rose Garden at the White House in Washington, DC, on July 11, 2019.  Brendan Smialowski / AFP

Stock markets drop on devastating growth data

May 01, 2020 - 7:45 AM

As jobless claims continue surging in the United States and the European Union economy shrinks, stocks dip on Thursday, April 30

The US flag is seen at the New York Stock Exchange (NYSE) on April 30, 2020 in New York City. - Wall Street stocks opened lower Thursday following another spike of jobless claims in the wake of coronavirus shutdowns, offsetting strong results from tech giants. Another 3.84 million US workers filed for unemployment benefits last week and the total has now passed 30 million in six weeks, according to the Labor Department data. (Photo by Johannes EISELE / AFP)

Stock markets rise on virus hopes as oil tanks

Apr 28, 2020 - 7:15 AM

United States markets follow Asia and Europe higher on Monday, April 27, after coronavirus figures provided hope. But an analyst warns the stock market has become 'divorced from fundamental reality.'

WALL STREET. A person walks down Wall Street in New York City on April 2, 2020. Photo by Spencer Platt/Getty Images/AFP

Oil prices gain on U.S.-Iran tensions, mixed day for global stocks

Apr 24, 2020 - 7:00 AM

'One other option is to fuel geopolitical tensions in the Middle East to threaten supply and support [oil] prices. This is what Donald Trump is doing right now,' says an analyst

(FILES) In this file photo taken on October 11, 2019 US President Donald Trump speaks to the press at the South Lawn of the White House in Washington, DC. - President Donald Trump leaves Washington for a rally with supporters and a Thanksgiving break at his Florida home on November 26, 2019 but impeachment storm clouds threaten to spoil the party. Before boarding Air Force One, the president will act out the quirky annual ritual of pardoning two enormous turkeys, sparing them from the national day of feasting on Thursday. (Photo by Nicholas Kamm / AFP)

Oil rockets higher, boosting global equities

Apr 23, 2020 - 7:00 AM

Oil prices rally on Wednesday, April 22, as United States President Donald Trump threatens to shoot at Iranian boats in a key waterway for crude shipments

The Marathon Refinery is seen in Carson, California, on March 9, 2020. - Global stocks and oil prices rebounded on March 10, 2020 on hopes of US economic stimulus efforts as the coronavirus rages, one day after suffering their biggest losses in more than a decade. Trading is exceptionally volatile as investors attempt to get a grip on a rapidly changing news flow, with positive reports of progress in China on the virus clashing with a Saudi decision to increase oil output in an already over-supplied market. (Photo by DAVID MCNEW / AFP)

Continued oil market turmoil weighs on global stocks

Apr 22, 2020 - 7:00 AM

'Ever thought that it could be imaginable to see the price of US oil valued at less than a pizza? Or even a slice of pizza?' an analyst says

The statue of the charging bull is pictured on April 20, 2020 in New York City. - Wall Street opened lower on Monday as traders grappled with a drop in oil prices to 22-year lows as the coronavirus pandemic sapped demand for energy. The Dow Jones Industrial Average was down 1.8 percent to 23,798.01 about 10 minutes into the trading session.The broad-based S&P 500 had declined 1.3 percent to 2,835.08, while the tech-rich Nasdaq had fallen 0.7 percent to 8,588.66. (Photo by Johannes EISELE / AFP)

Devastating oil glut sends prices into negative, Wall Street down

Apr 20, 2020 - 9:35 PM

(3rd UPDATE) Oil prices in the United States tumble into negative territory for the first time, closing at -$37.63 a barrel on Monday, April 20

(FILES) In this file photo taken on March 12, 2019 a pump jack operates at an oil extraction site in Cotulla, Texas. - US crude crashed to below $15 a barrel on April 20, 2020, its lowest level for over two decades, as concerns about a virus-triggered demand shock and lack of storage eclipsed an output cut deal. (Photo by Loren ELLIOTT / AFP)

IMF, World Bank roll out all their lending tools

Apr 18, 2020 - 2:15 PM

Here is a summary of the financing available from the International Monetary Fund and World Bank for countries battling the coronavirus pandemic

Everything on the table to attack virus' economic damage – IMF

Apr 17, 2020 - 10:20 AM

'Speed of action is of [the] essence in the crisis that has moved so rapidly and is so deep,' says International Monetary Fund Managing Director Kristalina Georgieva

WASHINGTON, DC - OCTOBER 08: New IMF Managing Director Kristalina Georgieva, speaks about the key issues to be addressed at the upcoming IMF / World Bank Annual Meetings, at the International Monetary Fund headquarters on October 8, 2019 in Washington, DC. Mark Wilson/Getty Images/AFP