Industrial metals from copper to iron ore recouped some of Monday’s losses after China pledged more support to help revive an economy that’s been imperiled by an escalating virus outbreak.
to increase monetary support to the real economy, especially for industries and small businesses hit hard by the pandemic, it said in a statement on Tuesday.
That follows the People’s Bank of China’s decision Monday to cut the amount of money that banks need to have in reserve for their foreign currency holdings, an attempt to help limit the drop in the yuan.
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.
Business Maverick: China Lockdown Fears Rip Through Markets as Stocks, Yuan TumbleFears about the economic toll of China’s strict Covid Zero policy have intensified, as news that lockdowns were spreading to Beijing sent stocks, commodities and the yuan tumbling.
Read more »
JSE faces slumping Asian markets on Monday as Covid-19 worsens in ChinaParts of China's capital Beijing have entered lockdown, exacerbating fears of an economic slowdown in the world's second-largest economy
Read more »
Are China and the US set for a new ‘Cold War’?Internationally, all eyes are on Russia and Ukraine. But global politics may take a decidedly frigid turn if the US and China ‘decouple’ — and that seems increasingly likely.
Read more »
IMF cuts growth outlook, predicts faster inflation on back of Russia invasion and China lockdownsThe International Monetary Fund slashed its world growth forecast by the most since the early months of the pandemic, and projected even faster inflation, after Russia invaded Ukraine and China renewed virus lockdowns.
Read more »
China COVID-19 death toll rises as Beijing warns of 'grim' situationThe world's second-largest economy has been struggling to stamp out its worst COVID-19 outbreak in two years.
Read more »
China covid outbreak fears batter stock marketsChina covid outbreak fears batter stock markets A worsening Covid outbreak in China could threaten the country's economy and global supply chains as stock markets sank on Monday
Read more »