Indices Fall on US Interest Rate Speculation, HSBC Announces Drastic Measures
June 9, 2015 6:13 am
Asia shares retreated, after speculation that US Interest Rates could rise as soon as September hit emerging markets and halted the Dollar’s run, whilst US stocks also ended the session lower yesterday as concerns over Greece coupled with the potential of an Interest Rate hike caused jitters amongst investors. The Dow closed 82 points lower at 17,766, while the S&P500 fell 13 points to close at 2,079.
The Euro benefited from the Dollar’s pullback, rising to $1.1314 and recovering all of Friday’s drop to $1.1048. The Dollar slipped a little on the Yen to 124.54, still within touching distance of the recent 13-year high at 125.86.
U.S. crude futures bounced 27 cents to $58.41 a barrel, while Brent added 25 cents to $62.94. Gold gained on the session’s weaker Dollar to reach $1,175.88 an ounce.
Within the equity space HSBC plans to cut tens of thousands of jobs from its payroll, take an axe to its investment bank and shrink its risk weighted assets by $290bn in an effort to improve its sluggish performance, Europe’s biggest bank said on Tuesday.
Asia shares retreated, after speculation that US Interest Rates could rise as soon as September hit emerging markets and halted the Dollar’s run, whilst US stocks also ended the session lower yesterday as concerns over Greece coupled with the potential of an Interest Rate hike caused jitters amongst investors. The Dow closed 82 points lower at 17,766, while the S&P500 fell 13 points to close at 2,079.
The Euro benefited from the Dollar’s pullback, rising to $1.1314 and recovering all of Friday’s drop to $1.1048. The Dollar slipped a little on the Yen to 124.54, still within touching distance of the recent 13-year high at 125.86.
U.S. crude futures bounced 27 cents to $58.41 a barrel, while Brent added 25 cents to $62.94. Gold gained on the session’s weaker Dollar to reach $1,175.88 an ounce.
Within the equity space HSBC plans to cut tens of thousands of jobs from its payroll, take an axe to its investment bank and shrink its risk weighted assets by $290bn in an effort to improve its sluggish performance, Europe’s biggest bank said on Tuesday.
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