Asian shares were mixed on Wednesday as investors awaited the outcome of the US midterm elections and a major inflation update due later in the week. Know more:
of at least one house of Congress. That combined with a Democratic White House could lead to little getting done in Washington, which may be bad for society but could also keep the status quo on economic policy.
If Republicans do end up wining control of at least the House of Representatives, the ensuing reaction in financial markets could be modest, according to economists at Goldman Sachs. Stocks have already rallied in anticipation of it, with two straight gains of at least 1% before Election Day. But a surprise win by Democrats could upset the market if it leads investors to expect higher corporate taxes and other policy changes.
The Fed has already hiked its key overnight rate to a range of 3.75% to 4%, up from virtually zero in March, and more investors are expecting it to top 5% next year. Shares of companies entwined with the cryptocurrency economy also fell sharply, with Coinbase Global losing 10.8% and Robinhood Markets falling 19%.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Paalam in semis in Asian boxfest - BusinessMirrorCARLO PAALAM was way too tactical and quicker than his South Korean foe to easily barge to the medal round of the Asian Boxing Confederation (ASBC) Asian Elite Men and Women Championships Sunday night in Amman, Jordan. Paalam, 24, scored a 5-0 unanimous victory over Joosung Yoon in the men’s quarterfinals in bantamweight—a national team
Read more »
PHL among most visited Southeast Asian destinations - BusinessMirrorTHE Philippines is faring well in terms of international arrivals, making it one of the most visited destinations in Southeast Asia this year. In a new report published for the ongoing World Travel Market in London, ForwardKeys showed the Philippines just 55 percent behind 2019 international arrivals. Other top destinations in the region were: Indonesia
Read more »
Outstanding shopping, travel, and rewards await new RCBC Visa Infinite cardholders - BusinessMirrorShopping, travel, and rewards experience just became grander with the launch of RCBC Visa Infinite credit card. Designed for ultimate travel, shopping, and rewards experience, the new RCBC Visa Infinite credit card carries outstanding benefits, including an extremely generous rewards program where cardholders will earn one rewards point for a minimum spend of P30, regardless
Read more »
Ayala Land’s tallest building tops off - BusinessMirrorAyala Land Inc. (ALI), the largest full-line real estate developer in the Philippines, has completed its tallest building in its portfolio to date—the South Tower of Park Central Towers in Makati City. Developed under the Ayala Land Premier (ALP) brand, the tower rises to a total of 248 meters, comprising 69 low-density levels housing 281
Read more »
A banker’s dream fulfilled at SMDC Shore Residences - BusinessMirrorWhen she was a kid, Rhodana Adao already knew what she wanted to be when she grew up. She was fascinated with commercial banks. In college, she pursued that dream. Today, she is a banker. A self-driven and successful banker, Rhodana has been going nonstop in this career since the age of 21. But more
Read more »
Future-proofing and greening of build - BusinessMirrorBeing a disaster-prone country, the Philippines badly needs sustainable and pro-environmental building practices to ensure that millions of Filipinos at least minimize the impact of severe typhoons and other natural disasters caused by climate change and, to a certain extent, mismanagement of the Philippines’s environment. Renato Redentor Constantino, Executive Director of the Institute for Climate
Read more »