MARKET saw aggressive unwind of risk exposure with downward pressure on stocks, commodities, treasury yields and risk currencies.
Weak US corporate earnings from the likes of Bank of America, Intel and Yahoo gave Wall Street the chills and Pimco's Bill Gross captured the market mood with a tweet that Monday's global market drop “was not a one-off”, and Wednesday's not a “two-off”. He argued that the gold rout as starting a levered market sell-off and advised piling into safe-haven Treasuries.
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!
