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Forex Trading in Dubai and Switzerland
Category: Investors
South Korea and Indonesia move on currencies
The Bank of Korea has become the latest central bank to step into the money markets in a bid to stabilise its currency.
The Korean won has declined by 10% against the US dollar in the past month, and the bank said it was taking appropriate steps to stem the falls.
The move follows a similar action by the Indonesian central bank on Thursday to shore up the rupiah.
Investors lose a trillion dollars in one day
EW YORK (CNNMoney) — Investors lost a trillion dollars in the in the stock market Monday as the debt crisis in Europe, lackluster economic news and a downgrade to the U.S. credit rating spark fears of a double-dip recession.
The Wilshire 5000 Total Market Index, the broadest index of U.S. stocks, lost 891.93 points, or just over 7%, Monday. This represents a paper loss for the day of approximately $1.0 trillion.
Wall Street to brokers: Investors should buy, not flee
NEW YORK (Reuters) – Wall Street’s advice to investors battered by plunging markets: Keep buying stocks.
With markets plunging for more than a week, and no relief in sight, some of the biggest brokerages on Thursday afternoon and early on Friday told their advisers that clients should not flee but instead buy into the panic.