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


19 Sept 2021

World Shares Fall as Fed Meeting Nears, Taper Timeline

The Index Today

World shares showed a decline mainly caused by fears of instability in Asian markets, mixed economic data Feds timeline for tapering asset purchase.
Three major U.S stock indexes fell lower on Friday after a broad sell-off. The Nasdaq Composite Index declined as U.S Treasury yields grew and laid pressure on market-yielding growth stocks. The dollar came to a three-week high whereas the 10-year U.S Treasury note yield briefly made it to 1.3855%.
Morgan Stanley Capital International MCSI analysis of stocks across the world revealed a shed of 0.71% while the STOXX went down approximately 2%. MCSI’s broadest indent of Asia-pacific shares outside of japan rose 0.29%.
Investors are glued to the Fed meeting scheduled for this week where they receive more information on tapering and asset purchases. The meeting may also shed light on when interest rates may be increased. Shares for Chinese property developer Evergrande dropped 30% this week as the company faces $80 million bond coupon payment coming up this week.
Investors have expressed fear that a corporate tax hike could negatively impact earnings. The news came after President Biden and his administration revealed plans to raise corporate tax from 26.5% from 21%.
The Dow Jones Industrial Average fell 166.44 points and the S&P 500 fell 40.76 points whereas the NASDAQ composite fell 137.96 points. US Crude oil saw a drop to $71.97 per barrel and gold fell 0.1% an ounce. The U.S Retail Sales report helped nudge the dollar a bit higher which remained steady at the currency’s previous three-week high.

Clay pottery with table linens
bottom of page