Economy
$800B removed from US share markets on Wed
Dow Jones down %1.63, Nasdaq 1.46%, S&P 500 %1.36; Fear index soard 12.16%
$800B removed from US share markets on Wed
Dow Jones down %1.63, Nasdaq 1.46%, S&P 500 %1.36; Fear index soard 12.16%
Oil prices increase; Brent crude exceed $108
Oil prices continue to surge on Wednesday, with Brent crude exceeding $108 per barrel as Middle East tensions escalate following US-Israeli strikes on Iranian oil facilities and subsequent retaliation threats
US producer prices rise more than expected in February
Producer price index up 3.4% year-on-year, rising 0.7% month-on-month
Oil prices exceeding $100 per barrel threshold could trigger $500B shock to global economy
Sustained high prices in oil for over a year expected to cut 0.5 percentage point in global economic growth for Q4, while oil prices could bounce back to normal if Strait of Hormuz reopened, says expert
Japan gasoline prices hit record high as Middle East turmoil fuels pump-cost spike
Nationwide average gasoline prices up to record $1.2 per liter this week, as Iran war and supply fears in Middle East pushed up crude costs and deepened pressure on Japan’s import-reliant economy
