1h ago
Indian stocks drop 1.4% to 32-month low, investors lose over Rs 10 lakh crore
Indian equities fell 1.4% on Thursday to a 32-month low, wiping out more than Rs 10 lakh crore in investor wealth in a single session. Foreign investors have been net sellers for nine straight trading days, offloading $4.8 billion and pushing year-to-date net outflows to a record $30.4 billion, Reuters reported. Pressure also built after the Reserve Bank of India raised its repo rate by 25 basis points to 5.5% on Wednesday and Brent crude jumped 4.2% over a week to $104 a barrel.
1h ago
2h ago
European shares fall 0.9% as banks hit over three-month low and oil jumps more than 3%
European stocks fell on Thursday, with the pan-European STOXX 600 down 0.9% and bank shares sliding nearly 2% to a more than three-month low. Oil climbed more than 3% on continued worries about Middle East supply disruptions, lifting inflation concerns. Investors are looking for fresh policy signals from the European Central Bank, the Federal Reserve and the Bank of England, wary that sticky inflation could limit the scope for rate cuts and weigh on growth.
2h ago
2h ago
Sensex drops more than 1,200 points after RBI lifts repo rate to 5.50% and shifts to calibrated tightening
Indian stocks extended their decline on Thursday, with the Sensex down more than 1,200 points at one stage and the Nifty sliding over 400 points. The move followed the Reserve Bank of India’s surprise 25-basis-point rate hike to 5.50% and a shift in its policy stance from “neutral” to “calibrated tightening,” which dented market optimism. Rising crude oil prices and foreign outflows added to the selling pressure.
2h ago
4h ago
FinCEN scraps December 2020 unhosted wallet proposal, keeping existing AML rules in place
FinCEN formally withdrew the December 2020 proposal that would have imposed recordkeeping, customer identity verification and reporting requirements on certain transactions involving unhosted and other covered wallets. The move means the proposal will not take effect as drafted, leaving self-custody workable without the added compliance burden. The withdrawal applies only to that specific 2020 proposal and does not change existing anti-money-laundering obligations for financial institutions. Regulators could still propose a new version in the future.
BTC
BTC-1.49%
4h ago