top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.


The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Stock Market

20 Dec 2021

Asian Stocks, U.S. Futures Plunge in the Wake of Manchin and the Pandemic

The Index Today

Asian stocks, crude oil, and U.S. equity futures plummeted on Monday, fueled by Senator Joe Manchin’s decision to veto the Build Back Better Act, in addition to Omicron-spurred restrictions.

While Asia-Pacific equities and treasury yields took a hit, gold and dollar experienced an upswing, undeterred by the current unsteady market conditions. Senator Manchin’s move to block the $1.5 trillion package has upended Democrats’ plans to achieve a more pro-social and climate-friendly economy. This has induced a drop in the U.S. economy forecasts released by Goldman Sachs.

According to Robert Schein, the Chief Investment Officer at Blanke Schein Wealth Management, the Omicron variant continues to pose a major threat to the market in the wake of increasing cases. “Investors should be prepared for Covid to continue to be a main factor in market performance heading into 2022. After the bull run we’ve seen over the past 21 months, investors aren’t as used to prolonged periods of volatility,” he said.

Stocks around the world also fell with shrinking assistance from central bank stimulus as it prepares to curb inflation. Additionally, Bitcoin has dwindled with decreasing speculative investments as the year draws to a close.

©Photo: Bryan R. Smith / AFP

Clay pottery with table linens
bottom of page