Oil prices tumbled more than 4 percent on Monday to the lowest in over a year as global stock markets fell on concerns about a U.S. government shutdown and worsening world economy.
Exxon Mobil and a seismic research company it hired to search for oil off the coast of Guyana declined on Monday to say when they might resume exploration work halted after a weekend confrontation with Venezuela’s navy.
A steep sell-off in U.S. stocks worsened in a pre-holiday shortened session on Monday, as a move by the U.S. Treasury secretary to convene a crisis group and other political developments rattled investors and pushed the S&P 500 to the brink of a bear market.
President Donald Trump blasted the Federal Reserve on Monday, describing it as the “only problem” for the U.S. economy, as top officials discussed a rout in stock markets caused in part by the president’s attacks on the central bank.
U.S. financial regulators told the Treasury Department on Monday they were not seeing anything out of ordinary in financial markets during the recent sell-off, according to a source familiar with the matter.
U.S. Treasury officials were not concerned with liquidity in the banking system when Treasury Secretary Steven Mnuchin reached out to top U.S. bank CEOs in phone calls on Sunday, CNBC reported on Monday, citing a senior Treasury official.
U.S. stocks fell for the fourth straight session on Monday, as political deadlock in Washington continued and Treasury Secretary Steven Mnuchin’s move to convene a crisis group added to nerves, pushing the S&P 500 closer to bear territory.
Oil fell more than 2 percent on Monday to the lowest in over a year as global stock markets tumbled under pressure from concerns about a U.S. government shutdown and worsening world economy.
A gauge of stocks worldwide hurtled toward an eighth straight decline on Monday as investors ignored the U.S. Treasury secretary’s actions to reinforce confidence in the economy and President Donald Trump criticized the Federal Reserve as “the only problem our economy has.”
President Donald Trump blasted the Federal Reserve on Monday, describing it as the “only problem” for the U.S. economy, as top officials discussed a rout in stock markets caused in part by the president’s feud with the central bank.
U.S. regulators assured Treasury Secretary Steven Mnuchin that nothing is out of the ordinary in the financial markets, Bloomberg reported on Monday citing a source familiar with the matter.
The Trump administration is arranging a phone call on Monday with top regulators to discuss financial markets amid a rout on Wall Street.
U.S. President Donald Trump blasted America’s independent central bank on Monday, describing the Federal Reserve as the only problem had by the country’s economy.
The Trump administration is arranging a phone call on Monday with top U.S. regulators to discuss financial markets as stocks fell again amid concern about slowing growth, the government shutdown and the independence of the Federal Reserve, the Treasury Department said.
Technology stocks led a broad selloff on Wall Street on Monday, as the U.S. government shutdown threatens to spill into the next year and the White House moves into fire-fighting mode amid what is already the S&P 500’s worst December since the Great Depression.
Copyright 1997-2019 Wall Street Reporter / Octagon Media Corp.
