US stocks plummet, pulling much of the global indices down with them
Commodity trading also plummeted after Wall Street’s sudden decline this week [Xinhua]
Oil prices have continued into their third day of decline as US stocks plunge at the fastest rate since 2016.
The US benchmark West Texas intermediate dropped 0.76 per cent to $63.66 a barrel for March. Global benchmark Brent Crude fell 0.89 per cent for April to $67.02 a barrel.
Workers make bicycle parts at a factory at Ludhina in the Indian state of Punjab. India remains one of the strongest emerging market performers, analysts agree [Xinhua]
Investments in emerging markets have been on the rebound in the past 18 months soaring to new levels despite the dollar and oil prices fluctuation, and look likely to continue their upward climb in the coming year.
Markets are speculating that Trump will choose a Fed chief who will not upset the current policies of the Federal Reserve [Xinhua]
Emerging markets are hoping that US President Donald Trump will pick a replacement for Federal Reserve chief Janet Yellen, whose term as chair expires in February 2018.
While she will remain on as Fed governor until 2024, and will be one of five candidates for Trump to choose from, economists in emergint markets are betting that Trump could sway toward Fed Governor Jerome Powell, who is seen as being more dovish than Yellen.
