The Federal Reserve raised its benchmark interest rate for the first time since 2023 and signaled that another increase could come before the end of the year. The move strengthens the appeal of dollar-denominated assets and could increase pressure on emerging-market currencies and international borrowing costs.
Dollar Tree Inc. has revealed plans to shutter nearly 1,000 stores and has reported an unexpected fourth-quarter loss. The discount retailer attributed this loss to a $1.07 billion goodwill impairment charge.
World shares inched higher and Wall Street was tipped for a stronger open on Tuesday, as U.S. Treasury yields steadied at multi-year highs following the worst selloff in years.
Wall Street has suffered its biggest drop since the coronavirus crisis began, as global markets suffered another day of very hefty losses.
Led by a nearly 10 percent crash in Australia, stocks around the world show investors still fear for the global economy.
Shares have tumbled after US President Donald Trump restricted travel to the US from mainland Europe in a bid to slow the spread of the coronavirus.
Trading on U.S. stock exchanges was halted immediately after opening on Monday, as the S&P 500 fell 7%, triggering an automatic 15 minute cutout put in place after the 2008-9 financial crisis.
