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S&P 500 on pace to confirm bear mkt on inflation fears, recession worries

Banks forecast 75 bps Fed hike on June 15; Wall St 'fear gauge' surges to one-month high; S&P 500 hits lowest level since March 2021

Russia becomes India's second biggest oil exporter in May: Report

In May Indian refiners received about 819,000 barrels per day (bpd) Russian oil, the highest thus far in any month, compared to about 277,00 in April, the data showed

Wall St poised to clinch bear market as S&P 500 tumbles over 20% in 2022

It would be the first time the S&P 500 has confirmed a bear market since the 2020 Wall Street plunge brought on by the Covid pandemic

Dollar higher as risky assets tumble; yen rebounds from 1998 lows

Dollar has reached a four-week high as compared to other currencies amid inflation concerns. Moreover, government selloffs were extended and stocks took a beating globally.

Inflation fears grip markets as global bonds, stocks extend selloff

Inflation rate has caused a stir throughout global markets leading to extended selloff of stocks and government bonds

Crypto market value slumps under $1 trn for first time since Jan 2021

The largest cryptocurrency, bitcoin, was down more than 9% on the day, falling to an 18-month low of $23,950

Dollar at two-decade high against six major peers, yen tumbles to 1998 lows

A sell-off across markets saw European stocks fall for a fifth straight session, while Bitcoin tumbled 9% to 18-month lows around $24,000

Oil dips on Beijing's Covid warning, fears of rate hikes to curb inflation

Brent crude was down $1.86, or 1.5%, to $120.15 at 0907 GMT, while US West Texas Intermediate crude was down $2.15, or 1.8%, at $118.52.

World stocks near fresh 2022 lows on inflation fears weigh on investors

An index of world stocks is down and very close to a 2022 low. European stock indices are also in a vulnerable position with benchmark shares down nearly 2%

Gold retreats from one-month high over spike in US treasury yields

Market reports suggest that gold has moved inversely to the US Dollar while Treasury yield have risen to a its peak since May 9th

India has ample rice stocks, no plans to curb exports, says food secretary

India, the world's biggest rice exporter, has ample stocks of rice and there is no plan to restrict exports, the top official at the food ministry said on Monday

Rajesh Exports will invest $3 bn to set up India's first e-display plant

Jeweller Rajesh Exports has agreed to invest $3 billion in Telangana state to set up the country's first electronic-display plant, the state government said late on Sunday

Yen falls to lowest level since 1998 vs dollar as US yields march higher

The yen tumbled to its lowest against the dollar in 24 years on Monday, as the gap between Japanese and US benchmark yields widened after red hot US inflation data drove US Treasury yields higher

Oil prices slide on Beijing Covid warning, global inflation concerns

Oil prices slipped more than $2 on Monday as a flare-up in Covid-19 cases in Beijing quelled hopes for a rapid pick-up in China's fuel demand

Mass Covid testing announced for Beijing district amid 'ferocious' outbreak

City health officials said that so far there have been 166 confirmed cases linked to the outbreak that began at the Heaven Supermarket bar in the Sanlitun area on Thursday, 145 of them bar patrons

Ukraine and US-China ties dominate at Shangri-La Dialogue in Singapore

Chinese Defence Minister Wei Fenghe said it was up to the United States to improve the bilateral relationship with his country

French head to polls as Macron battles for majority in parliament

Hard-left bloc hopes to capitalise on anger at inflation; lowest turnout in at least 20 years

Dashed peak inflation hopes spell more pain for US stocks and bonds

With markets now betting policymakers will hike rates by at least 50 bps in their next three meetings, expectations of a less hawkish Fed are fading and investors believe more declines are on the way

Russia: Tasty name but no Big Mac as rebranded McDonald's restaurants open

A new era for Russia's fast-food and economic scene dawned on Sunday as McDonald's restaurants flung open their doors in Moscow under new Russian ownership

Biden chides Exxon, oil firms for profits as US faces record inflation

US President Joe Biden has pointed out oil firms who are making stellar profits amid severe inflation which has gripped the entire world