Asian, European markets drop as China stimulus hopes fade

Markets sank Monday with traders left disappointed by a lack of policy announcements from China aimed at kickstarting the ailing economy. | Reuters

“Government policy expectations were overdone,” said Steven Leung, at UOB Kay Hian.

That came after Blinken on Sunday held “candid” discussions for seven and a half hours with Chinese Foreign Minister Qin Gang and agreed to keep up communication as they look to avoid conflict. Fed board member Christopher Waller said the economy remained robust and that he was against changing the bank’s tightening policy because of trouble in the banking system.

Investors will be closely watching Fed chief Jerome Powell’s twice-yearly testimony to Congress this week, hoping for clues about the policy board’s thinking.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

inquirerdotnet /  🏆 3. in PH

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Finnegan bags vault bronze in Asian Gymnastics Championships; Yulo lands 4th in ringsAleah Finnegan earns her first medal in the Asian Artistic Gymnastics Championships, while Carlos Yulo misses out on the podium in the rings.
Read more »

What projects sell in int’l film markets, producer Bianca Balbuena revealsOf all the genre films, horror flicks are the easiest to sell internationally, while local historical and comedy films are the hardest, according to celebrated film producer Bianca Balbuena. | marinelcruzINQ /PDI
Read more »

Finnegan clinches vault bronze in Asian ChampionshipsFil-American Aleah Finnegan boosted her 2024 Paris Olympics campaign after bagging the bronze medal in vault in the Asian Senior Artistic Gymnastics Championships in Singapore Saturday, June 17. ManilaBulletin READ:
Read more »

Yulo bags floor exercise gold in Asian ChampsCarlos Yulo showed why he’s one of the finest gymnasts in the world after capturing the floor exercise gold medal in the Asian Senior Artistic Gymnastics Championships in Singapore Saturday, June 17. ManilaBulletin READ:
Read more »

Indonesia tests Philippines anew in Asian Women's Volleyball Challenge CupIndonesia gauges the new-look Philippine women's volleyball team in the weeklong 2023 Asian Women's Volleyball Challenge Cup in Indonesia.
Read more »