Stock prices fell around the globe on Friday as investors decided to take
the money and run after a stunning 20-percent rally from lows earlier this
month, while political strains punished the euro.
The U.S. dollar scored its best day in more than two months against the euro, bolstered by a growing view that the European Central Bank may be the next to purchase its own bonds to stimulate growth.
A stronger dollar hurt oil and gold. As has often been the case since the start of the economic crisis, the rising dollar also coincided with weakening stocks.
The MSCI world equity index was down 2 percent at the end of trading in New York, but was still about 20 percent above the lows it reached earlier this month.
To read more, double-click on the square brackets below:
MARKET REPORTS: > GLOBAL MARKETS-Stocks books profits, politics pummel euro > MONEY MARKETS-Interbank lending costs ease before ECB meeting > EMERGING MARKETS-Investors take profits but risk appetite up > COMMODITIES-Market mostly end down after volatile week
MAIN ECONOMIC AND FINANCIAL NEWS DRIVING GLOBAL MARKETS > G20 marches begin week of protests in Europe > World leaders urge financial reform but US cautious > US auto sector task force readies aid announcement > US bank CEOs voice support for Obama's economic plans > Mexico economy shrinks at 9.5 pct annual rate in Jan > Federal Reserve's bond buying strategy surprises > US consumer spending and sentiment edge up > IMF chief says US dollar not under threat as reserve currency > GM offers UAW $10 bln in preferred stock > G20 working group urges more risk prevention > Germany says debt surge threatens euro stability > Eurozone industry orders see record fall in Jan > UK economy shrinks 1.6 pct in Q4, recovery distant > Worst of Russian crisis over, rate cuts soon - central bank
ANALYSIS RELATED TO CREDIT CRISIS > Pockets of strength push US housing market rebound > Optimism about US banks might be misplaced > US dollar may gain amid slew of US data, G20 meeting > G20 grand bargain looks distant prospect > China forex swaps may be boon to its exporters > Extra regulation may stabilize big bank profits > With US backing, bond investors tip toward risk > US, EU unveil similar fianancial reform ahead of G20 > Europe's banks hatch bond buyback offers > Signs emerge of money market relief, but long way to go > Russia's central bank rouble policy a success for now > Latam finally free to cut rates in face of crisis
FACTBOXES > Global crisis brings protectionism threats > Fiscal stimulus in G20 countries > G20 state of play on treatment of toxic bank assets > Key Obama financial regulation proposals > How might the SDR become a super reserve currency > US Treasury details toxic asset plan > Q&A - How will the US asset clean up plan work - > US Treasury fact sheet on investment program > G20 proposals on hedge funds, pay, ratings agencies > IMF emergency loan programmes in past six months > Federal Reserve statement after March 17-18 meeting > Bank of Japan on subordinated loans to banks > G20 policymakers statement > G20 statement on financial system > Central banks turn to new measures to help economies > Where has all the US bailout money gone -
Keywords: CREDITCRISIS/TAKEALOOK (New York Treasury Desk +1-646-223-6300) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The U.S. dollar scored its best day in more than two months against the euro, bolstered by a growing view that the European Central Bank may be the next to purchase its own bonds to stimulate growth.
A stronger dollar hurt oil and gold. As has often been the case since the start of the economic crisis, the rising dollar also coincided with weakening stocks.
The MSCI world equity index was down 2 percent at the end of trading in New York, but was still about 20 percent above the lows it reached earlier this month.
To read more, double-click on the square brackets below:
MARKET REPORTS: > GLOBAL MARKETS-Stocks books profits, politics pummel euro > MONEY MARKETS-Interbank lending costs ease before ECB meeting > EMERGING MARKETS-Investors take profits but risk appetite up > COMMODITIES-Market mostly end down after volatile week
MAIN ECONOMIC AND FINANCIAL NEWS DRIVING GLOBAL MARKETS > G20 marches begin week of protests in Europe > World leaders urge financial reform but US cautious > US auto sector task force readies aid announcement > US bank CEOs voice support for Obama's economic plans > Mexico economy shrinks at 9.5 pct annual rate in Jan > Federal Reserve's bond buying strategy surprises > US consumer spending and sentiment edge up > IMF chief says US dollar not under threat as reserve currency > GM offers UAW $10 bln in preferred stock > G20 working group urges more risk prevention > Germany says debt surge threatens euro stability > Eurozone industry orders see record fall in Jan > UK economy shrinks 1.6 pct in Q4, recovery distant > Worst of Russian crisis over, rate cuts soon - central bank
ANALYSIS RELATED TO CREDIT CRISIS > Pockets of strength push US housing market rebound > Optimism about US banks might be misplaced > US dollar may gain amid slew of US data, G20 meeting > G20 grand bargain looks distant prospect > China forex swaps may be boon to its exporters > Extra regulation may stabilize big bank profits > With US backing, bond investors tip toward risk > US, EU unveil similar fianancial reform ahead of G20 > Europe's banks hatch bond buyback offers > Signs emerge of money market relief, but long way to go > Russia's central bank rouble policy a success for now > Latam finally free to cut rates in face of crisis
FACTBOXES > Global crisis brings protectionism threats > Fiscal stimulus in G20 countries > G20 state of play on treatment of toxic bank assets > Key Obama financial regulation proposals > How might the SDR become a super reserve currency > US Treasury details toxic asset plan > Q&A - How will the US asset clean up plan work - > US Treasury fact sheet on investment program > G20 proposals on hedge funds, pay, ratings agencies > IMF emergency loan programmes in past six months > Federal Reserve statement after March 17-18 meeting > Bank of Japan on subordinated loans to banks > G20 policymakers statement > G20 statement on financial system > Central banks turn to new measures to help economies > Where has all the US bailout money gone -
Keywords: CREDITCRISIS/TAKEALOOK (New York Treasury Desk +1-646-223-6300) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.