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Pound Depreciates On Weak U.K. GDP Data

Pound Depreciates On Weak U.K. GDP Data

The pound lost ground against its major counterparts in the European session on Monday, as the nation's economy shrank for the second straight month in April, sparking fears about the risk of a recession.
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European Shares Extend Losses On Growth Worries

European Shares Extend Losses On Growth Worries

European stocks fell sharply on Monday to extend losses from the previous session as hotter-than-expected U.S. inflation data along with news of a "ferocious" COVID-19 outbreak in Beijing's most populous district of Chaoyang sapped investors' appetite for riskier assets.
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Asian Shares Plunge On Inflation, COVID Worries

Asian Shares Plunge On Inflation, COVID Worries

Asian stocks nosedived on Monday as hotter-than-expected U.S. inflation data coupled with news that China's capital Beijing is facing an "explosive" COVID-19 outbreak connected to a bar stoked concerns about global growth.
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Australian Dollar Weakens On Fed Tightening Fears

Australian Dollar Weakens On Fed Tightening Fears

The Australian dollar fell against its major counterparts in the Asian session on Monday, as Asian stocks followed Wall Street lower on concerns that the Federal Reserve may pursue a more aggressive policy tightening to bring inflation down.
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UK GDP Falls For Second Straight Month1

UK GDP Falls For Second Straight Month1

The UK economy shrank for the second straight month in April after services, construction and production contributed negatively for the first time in more than a year, the Office for National Statistics said on Monday. Gross domestic product fell unexpectedly by 0.3 percent on month, faster than the 0.1 percent drop in March.
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