Wall Street's main indexes ended weaker on Wednesday, with the Nasdaq hitting a 2022 closing low, as investors grappled with mixed economic data, rising COVID cases in China, and geopolitical tensions heading into 2023.
It has been a rough 12 months for emerging markets that have seen more governments stumble into default, currencies suffer and double-digit losses in stocks and bonds alike - though many investors are optimistic that 2023 could bring some relief.
Stock markets diverged on Wednesday as investors looked for a traditional "Santa Claus rally" to close the year.
European shares were subdued on Wednesday, while UK's FTSE 100 outpaced peers after a long Christmas holiday weekend as investors assessed Beijing's steps towards reopening its COVID-battered economy.
Wall Street ended lower at the beginning of a holiday-shortened week on Tuesday, as rising U.S. Treasury yields pressured interest rate sensitive megacap shares.
European and Asian markets advanced on Tuesday after China said it would end quarantines for overseas arrivals, spurring hopes for the revival of the world's second-largest economy.
Oil prices rose in light trade on Tuesday on concerns that winter storms across the United States are affecting logistics and production of petroleum products and shale oil.
The dollar moved broadly lower on Tuesday while Australia and New Zealand's currencies jumped as risk appetite grew after China said it will scrap its COVID quarantine rule for inbound travellers - a major step towards easing curbs on its borders.
A look at the day ahead in Asian markets from Jamie McGeever.
The United States has become a global crude oil exporting power over the last few years, but exports have not exceeded its imports since World War II. That could change next year.
EU countries are worried that they will have a hard time filling gas storage tanks in time for next winter.
Wall Street closed lower on Monday for a fourth straight session with Nasdaq leading declines as investors shied away from riskier bets, worried the Federal Reserve's tightening campaign could push the U.S.
Asia's stockmarkets made a wobbly start to the final full trading week of 2022, with the prospect of interest rates rising further next year taking the edge off festive cheer.
Oil prices reclaimed ground on Monday after tumbling more than $2 a barrel in the previous session as optimism from China's reopening and oil demand recovery outweighed concerns of a global recession.
A group of investors has tabled resolutions urging four of the world's top oil and gas companies to set broad climate targets for 2030, reviving pressure on the sector after a year that saw governments shift their focus to energy security.
Forget a year-end rally in financial markets. The message from major central banks is loud and clear: the battle to tame inflation is far from over.
The World Bank's private investment arm on Thursday said it had launched a $2 billion support package for Ukraine to help build the resilience of the Ukrainian private sector devastated by Russia's war and to prepare for reconstruction.
The dollar was on the back foot on Thursday, even as the Federal Reserve kept to its hawkish rhetoric after raising rates by half a percentage point, as investors were doubtful over how much the central bank would commit to putting the brakes on growth to curb inflation.
Global stocks eked out small gains and the dollar slipped on Wednesday on hopes that central banks will stop raising interest rates in early 2023 following the latest U.S.
The dollar firmed on Monday after data showed producer prices in the United States rose more than expected last month, pointing to persistent inflationary pressures and stoking fears the Federal Reserve would need to keep rates higher for longer.
Oil prices rose more than 1% in early Asian trade on Monday as a key Canada-United States crude pipeline stayed shut while Russian President Vladimir Putin threatened to cut production in retaliation against a Western price cap on Russian oil exports.
Britain this week inked an agreement aimed at boosting trade and investment with South Carolina, its third such deal with a U.S.
The dollar eased on Friday as worries over a slowdown in the United States mounted, with traders on guard ahead of a slew of central bank meetings next week, where the Federal Reserve takes centre stage.
Oil prices are set to post their biggest weekly drop in months, since traders expect it will be months before the benefits of China easing COVID controls feeds through to demand.
European shares fell for the fifth straight session on Thursday, bogged down by weakness in telecom and real estate sectors amid growing fears of an impending recession.
European motorists could find Russian diesel in their tanks even after bans take effect because regulators lack tools to trace the origin of fuel when it has passed through other countries.
The dollar crept higher on Wednesday as top executives from the biggest U.S. banks warned of an impending recession, which dampened risk appetite and kept the greenback supported.
The market for old oil tankers is booming, and it's all down to efforts by Western nations to curb trade in Russian crude.
The Group of Seven price cap on Russian seaborne oil came into force on Monday as the West tries to limit Moscow's ability to finance its war in Ukraine, but Russia has said it will not abide by the measure even if it has to cut production.
Asian shares edged higher on Monday as investors hoped steps to unwind pandemic restrictions in China would eventually brighten the outlook for global growth and commodity demand, even if full freedom could be months away.
