U.S. Stocks Fall Amid Decline in Tech Shares
U.S. stocks fell sharply Thursday in their worst showing since June, driven by a broad decline in many of the technology companies that have led the market higher in recent months.
Cleveland Fed President Says Monetary Policy Is Well Communicated
The Federal Reserve has adequately and appropriately telegraphed its intentions to keep interest rates low for a long time to support the U.S. economy through the coronavirus pandemic-induced downturn, making any more explicit interest-rate guidance less urgent, said Federal Reserve Bank of Cleveland President Loretta Mester.
Economy Is Limping, but Revenue Is Soaring at Wall Street's Banks
Investment-banking and trading revenues hit an eight-year high in the first half, a counterintuitive boom that shows the heavy hand of the Federal Reserve and the gulf between financial markets and the real economy.
Chicago Fed's Evans Worries Politics Is Holding Up Support for Economy
Federal Reserve Bank of Chicago President Charles Evans said the U.S. economy needs continued support from the government and he is worried elected officials are fighting too much to deliver it.
Jobless Claims Fell Last Week
New applications for unemployment benefits declined, a reflection of a slowly improving labor market and the impact of a new measurement method.
U.S. Trade Deficit Widest Since 2008 in July as Imports Outpaced Exports
The U.S. trade deficit widened in July, as Americans' appetite for foreign-made goods bounced back while exports rose more modestly.
France Reveals $118 Billion Plan to Relaunch Economy
France detailed a plan Thursday to inject $118 billion into its economy, which has taken an outsize beating from the coronavirus pandemic.
Oversupply of Easy Money Sends European Borrowing Rates to Record Low
The interest rate that European banks use to lend among themselves plumbed new depths this week in a sign of how credit markets have been distorted by central banks' aggressive measures this year.
Brazilian Company Suzano Bets the Bond Market on Emission Cuts
As Brazil struggles with deforestation, one of the country's largest paper manufacturers is pitching investors a new type of security that will cost the company money if it fails to meet greenhouse gas-reduction targets.
Emerging-Market Bond Funds Face Reckoning
The Covid-19 pandemic is a reminder that assets designed to produce higher returns in good times can post outsize losses when things go wrong.