Pound Rises From 5 1/2-Year Low

The pound rallied from its lowest level in 5 1/2 years as traders awaited signals from the Bank of England about the path of interest rates amid speculation the recent selloff has gone too far. Sterling also rebounded from Friday’s one-year low against the euro and climbed versus most of its 16 major peers. How far this advance has to run may be determined by a slew of economic reports due this week, including data on inflation,...

Brent Near 12-Year Low as Iran Comeback to Swell Glut

Brent crude traded near a 12-year low in London, briefly dipping below $28 a barrel, after the lifting of international sanctions on Iran paved the way for increased supply amid a global glut. Futures were little changed after earlier dropping as much as 4.4 percent in London to the lowest since November 2003. Iran is beginning efforts to boost output and exports by 500,000 barrels a day now that restrictions have ended, Amir Hossein...

Asian Stocks Set for More Losses as Traders Brace for China Data

Asian index futures signaled further losses for the region’s stocks, with a swathe of data on China’s economy expected to be the focus of Tuesday trading. The yen maintained declines following a rebound in some high-yielding currencies. New Zealand shares opened marginally lower, while contracts on Japanese equities foreshadowed a fourth straight day of losses, after global stocks slid to their lowest level since July 2013 on Monday,...

European Stock Plunge Deepens in Volatile Trading as Banks Slump

A decline in bank shares dragged European stocks down for a third day, with the Stoxx Europe 600 Index extending a one-year low. The benchmark equity measure dropped 0.4 percent, closing at its lowest level since December 2014. The Stoxx 600 climbed as much as 1.2 percent after the market opened and later fell 0.8 percent. Lenders completed their biggest three-day drop since August, tumbling 7.5 percent in the period. A third week of...

Asian Stock Rout Deepens as Japan, Australia Bear Markets Loom

Asian stocks fell, with Japanese and Australian shares on the cusp of joining China in a bear market, as a continuing collapse in oil prices heightened concern over the strength of the global economy. The MSCI Asia Pacific Index lost 0.9 percent to 119.05 as of 4:06 p.m. in Hong Kong, extending this year’s slide to 9.8 percent. Japan’s Nikkei 225 Stock Average declined 1.1 percent after plunging as much as 2.8 percent in early trading,...