Stocks Fall as Bond Yields Resume Climb

The Dow dropped about 500 points, putting markets on track to resume declines as concerns over economic growth and inflation continue to drive volatility. 


 
Fed must try to avoid a 'harsh recession,' Daly says

The Federal Reserve must try to avoid a hard recession, said San Francisco Fed President Mary Daly on Thursday. 


 
BOE Says UK Government Tax Cuts Will Prompt 'Significant' Change to Key Interest Rate

The Bank of England is likely to make a "significant" change to its key interest rate in response to tax cuts recently outlined by the U.K. government when policymakers next meet in early November, its chief economist will say later Thursday. 


 
U.S. Slaps Sanctions on Chinese Firms It Accuses of Helping Iran

Firms in the United Arab Emirates, India and Hong Kong also were sanctioned over oil sales, and the U.S. threatened to further squeeze Tehran's energy sales if it continues to breach the 2015 nuclear deal. 


 
Senate Approves Stopgap Funding Bill, Aid to Ukraine

The legislation, which would prevent a partial government shutdown after the current fiscal year expires Friday night, now must be passed in the House, before heading to President Biden's desk. 


 
6 U.S. Banks Will Assess Their Climate Resilience in Fed Pilot Program

Big banks-Citigroup, Morgan Stanley, Goldman and others-will participate in the Fed-run pilot next year as climate preparedness joins more conventional risks. 


 
Bank of Mexico Raises Interest Rates for 11th Straight Time

The Bank of Mexico raised its reference interest rate for an 11th straight time Thursday, citing greater-than-expected price shocks that will keep inflation above target for longer than it had previously estimated. 


 
Jobless Claims Hit Lowest Level in Five Months

Initial jobless claims decreased to a seasonally adjusted 193,000 last week, the lowest since late April. 


 
Mortgage Rates Rise to 6.7%, Highest Since 2007

Mortgage rates are more than double where they were a year ago, adding pressure to the already cooling U.S. housing market. 


 
House Democrats Signal No Vote on Stock-Trading Ban for Congress

Many lawmakers and outside groups raised objections over the bill's provisions on blind trusts and disclosure.


(END) Dow Jones Newswires

09-29-22 2115ET