Technical outage causes risk aversion in markets, Biden withdraws from presidential race

From Investing.com: 2024-07-22 05:42:00

Markets were in a risk-off mode after a global technical outage, causing the dollar to rally against major currencies. Meanwhile, President Biden withdrew from the presidential race, endorsing Kamala Harris. On Wall Street, indices slipped post-outage, with a focus now turning to earnings results from Alphabet and Tesla. Gold and oil prices suffered due to a strong dollar and concerns over the Chinese economy. While gold rebounded slightly, oil prices slipped further after the PBoC’s rate cuts. Investors are awaiting further developments in the global market.



Read more at Investing.com: Technical Outage Triggers Risk Aversion, Biden Steps Down