Asian shares extended losses on Tuesday and European markets look set to follow after twin surveys showed China's manufacturing sector in the grip of its worst slump in several years, raising fresh fears about the health of its economy.
Oil capped the biggest three-day gain in 25 years after OPEC said it’s ready to talk to other global producers to achieve ‘fair prices’ and the U.S. government reduced its crude output estimates.
The Nonfarm payrolls report is especially key because it plays a big role in the Fed's decision -- the central bank could raise its benchmark interest rates for the first time in a decade in September.
U.S. stocks joined a renewed selloff in global equities while commodities tumbled and Treasuries rose on fresh concern China’s efforts to prop up its markets will fail.
Asia’s currencies posted their biggest monthly loss in three years, led by Malaysia’s ringgit, after a yuan devaluation heightened the risk of a currency war in the region as the U.S. prepares to raise interest rates.
The dollar finished Friday’s session with weekly gains against the euro and the pound as U.S. stocks stabilized and a spate of strong U.S. economic data helped assuage investors’ fears of sustained market turmoil.
Oil jumped the most in more than six years, caught up in a relief rally that swept the globe as the U.S. economy grew more than predicted.
Treasuries rose and stocks declined as Federal Reserve officials met at Jackson Hole and investors reassessed the outlook for markets at the end of a turbulent week.
Yesterday, the US statistics proved the stability of the economic situation in the country.