China's economic slowdown and financial mayhem are fostering a cycle of decline and panic across much of the world, as countries on nearly every continent see escalating risks of prolonged slumps, political disruption and financial losses.
Federal Reserve officials stressed Thursday that policy should be tightened only gradually after U.S. interest rates are increased for the first time since 2006, with New York Fed President William C. Dudley saying the conditions for liftoff "could soon be satisfied."
The Trans-Pacific Partnership, a tentative agreement on trade negotiated by a dozen Pacific-rim nations, will slightly pry open Japan's famously closed rice market, protect brand-name drugs from generic competitors for at least five years and lower tariffs on automobiles.
Following the Fed interest rates decision to keep them at historic lows, there is no shortage of reaction from analysts and economists across Wall Street. Here's a quick look at what they think about the Fed standing pat.
"What I want to emphasize is that regional or systemic financial crisis will not happen in China, and the Chinese economy will not head for a hard landing," Chinese Premier Li Keqiang said last January. Roughly seven months later, China finds itself at the epicenter of a global stock market rout that has vaporized $8 trillion in wealth.
LONDON – European and U.S. shares rebounded on bargain-hunting Tuesday as China cut interest rates after fears of a slowdown in the world's second-biggest economy sparked a "Black Monday" rout across global markets.