Stock market debt default
By DAVID JOLLY and KEITH BRADSHER JUNE 29, Global markets shuddered on Monday after Greece closed its banks amid fears that the country was headed toward default.
Stocks slumped on Wall Street, after markets in Europe were buffeted by worries that the Greek debt crisis would prove contagious and Chinese investors endured another topsy-turvy session.
The losses wiped out all the gains for the Dow and S. Position of the Dow Jones industrial average at 1-minute intervals on Monday. The FTSE index in London fell 2 percent.
In Greece, b anks and markets will be closed for the week, after Prime Minister Alexis Tsipras interrupted last-ditch debt negotiations early Saturday with the announcement that he was calling a referendum for July 5 on whether to accept the tough terms offered by international creditors. Investors have been concerned by the probability that Athens will be unable to meet a 1.
Puerto Rico — U.S.’s ‘Greece’ — is hurtling to default - MarketWatch
While investors were clearly concerned about the events of the weekend, there was no sign on Monday of widespread panic. The European Central Bank and other eurozone authorities have had four years to prepare for this moment, Mr.
Carl Weinberg, managing director of the research firm High Frequency Economics in Valhalla, N. If Greece fails to make payment, Mr. Weinberg said, the country could be declared either in arrears or in default, with such a determination taking several days.
Russian financial crisis - Wikipedia
Bonds of the most exposed European governments, including Italy and Stock market debt default, fell sharply, while their yields — or interest rates, which move in the opposite direction of prices — rose. The prices of bonds sold by countries considered safe investments, like Britain, Germany and the United States, all rose. The yield on the year Treasury note fell to 2. Greek two-year bond prices plummeted, with their yields rising almost 14 percentage points to about 34 percent, a sign that investors believe default has become increasingly likely.
Treasury's Mnuchin: U.S. won't default on its debt - Jun. 9,
Comparable German bonds were trading to yield less than 1 percent. Greece has been struggling to find a solution to its debt troubles for years.
But the speed with which its government called stock market debt default referendum on the bailout terms and shut its banks appears to have caught at least some investors off guard. The Nasdaq tumbled points, or 2. European markets fell even more. In Asia, an interest-rate cut bond embedded call option Beijing on Saturday failed to stem the fall in Chinese stock markets beyond the first hour of trading.
The Shanghai composite index closed the day 3. In Hong Kong, the Hang Seng fell 2. The European Central Bank said it would not expand an emergency loan program that had been propping up Greek banks for weeks.
The emergency measures in Greece escalated the confused and unpredictable state of the crisis. The central bank had previously refrained from acting so quickly after a market downturn, so its action cvs earn cash back credit card the weekend was interpreted as a clear sign that the government was reluctant to see the Chinese stock markets lose their gains after doubling in the past 12 months.
If the damage is not contained, economic output in Asia could drop 0. A version of this article appears in print on June 30,on Page B4 of the New York edition with the headline: Order Reprints Today's Paper Subscribe.
Tell us what you think. Please upgrade your browser. Sections Home Search Skip to content Skip to navigation View mobile version.
The New York Times window.
Subscribe Now Log In 0 Settings. Close search Site Search Navigation Search NYTimes. Clear this text input. By DAVID JOLLY and KEITH BRADSHER JUNE 29, Continue reading the main story Share This Page Continue reading the main story.
Greece Will Shut Banks in Fallout From Debt Crisis JUNE 28, CURRENCY CRISIS The Next Few Days Have the Potential to Transform Greece and Europe JUNE 28, Cash Withdrawals and Hoarding as Default Looms Over Greece JUNE 28, Business Tech Science Health Sports Education Obituaries Today's Paper Corrections.
Opinion Today's Opinion Op-Ed Columnists Editorials Contributing Writers Op-Ed Contributors Opinionator Letters Sunday Review Taking Note Room for Debate Public Editor Video: Events Guide Television Theater Video: Events Guide Blogs Multimedia Photography Video NYT Store Times Journeys Subscribe Manage My Account.
Subscribe Subscribe Home Delivery Digital Subscriptions Crossword Email Newsletters Alerts Gift Subscriptions Corporate Subscriptions Education Rate Mobile Applications Replica Edition.