In this recap we find that the Dow & S&P 500 had their biggest daily percentage drops since May 31 on Wednesday, after the U.S. Federal Reserve cut interest rates for the 1st time since 2008, but remarks by Fed Chair Jerome Powell dampened expectations for further rates cuts going forward.
With the Trump announcement of new tariffs on Chinese imports U.S. oil prices plunged over 7% to settle below $55.00 a barrel.
In a further blow to the global trade technology supply chain, South Korean computer chip-makers are in trouble with their quest to find alternatives for key Japanese chemicals, that have been slapped with export restrictions.
The Institute of International Finance, says total world debt is near $250 trillion, or 320% of GDP through 2018. Non-financial corporate debt went over $72 trillion last year, near an all-time high of 92% of GDP.
The London Stock Exchange to buy financial data provider Refinitiv; U.S. might quarantine Venezuela; body of the founder of Coffee Day Enterprises is found; Byju Raveendran is India’s newest billionaire; Disney breaks record at global box office.