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Global Stocks Steady, Gold at Three-Month High on Inflation Concerns
Markets have been skittish in recent weeks as bumper supplies of central bank stimulus and rising prices in the United States and other countries fuel concerns some economies could overheat, requiring policymakers to tap on the brakes.
Taiwan Stocks Swoon on COVID-19 Fears Despite Reassurance Efforts
The government has repeatedly tried to reassure people that the economy remains strong and there is no undue cause for alarm, even amid volatility and sharp falls in the stock market.
Bitcoin Hits Three-Month Low As Musk Drives Investors To Exit
Bitcoin fell more than 9% on Monday to as low as $42,185, its lowest since Feb. 8, while ether, linked to the ethereum blockhain, fell even more to as low as $3,123.94. Dogecoin fell nearly 7% to $0.48, and all three are well under recent records.
Oil Edges Lower As COVID-19 Restrictions in Asia Fuel Demand Concerns
Gasoline shortages that have plagued the U.S. East Coast slowly eased on Sunday, with 1,000 more stations receiving supplies as Colonial Pipeline's 5,500-mile (8,900-km) system recovered from a crippling cyberattack.
Easing commodity prices and virus outbreaks in Singapore and Taiwan - where COVID-19 had been contained - helped modest dollar gains of 0.2% against the Australian and New Zealand dollars in the early part of the Asia session.
Asia Shares Cautious Ahead of China Data Test
Industrial output and retail sales are forecast to show hefty annual gains given activity in April last year was badly marred by pandemic lockdowns. Exports remain strong as the developed world reopens, while stimulus at home should support retail spending.
Bitcoin Price Lower After Musk Tweet
The price of Bitcoin traded below $45,000 on Sunday after a tweet by Tesla CEO Elon Musk, an outspoken supporter of cryptocurrency, suggested Tesla may be considering or may have sold off its bitcoin holdings.