PETALING JAYA: Stock markets across the world, already sweating from a liquidity crunch in the US, breathed a sign of relief after the US Federal Reserve (Fed) cut its discount rate by 50 basis points.
That move sent Wall Street soaring last Friday and Asian markets sharply higher yesterday, offering hope that the extra liquidity would bring an end to the subprime crisis that has affected global markets.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!