A pledge by the US central bank, the Federal Reserve, for a massive spending spree of all types of US debt failed to put the brake on the global stock market sell-off, suggesting that investors are looking for huge government spending programmes and not just market-calming initiatives by central banks.
Economists are divided about when the next US recession will arrive, but they largely agree on this: The country will need to fight it with a massive fiscal programme, and be ready to swallow deficits that may eclipse the trillion-dollar shortfall run by the Trump administration this year.
Global markets and oil prices fell after US President Donald Trump ordered American companies to exit China after Beijing unveiled retaliatory tariffs on $75bn (€67bn) in US goods, throwing a new twist into the bitter trade war between the world’s two largest economies.
The latest international trade data for Ireland confirm once again that the export sector of the economy remains a very important engine of overall economic growth and it is blatantly obvious that the future health of the export sector is crucial for the overall health and prosperity of the economy.
US President Donald Trump has said trade negotiations with China are progressing and a final agreement “will probably happen”, adding that his call for tariffs to remain on Chinese imported goods for some time did not mean talks were in trouble.
Irish shares tapped a surprise early new year buying wave that sent the Iseq Overall index climbing 3%, reflecting huge gains for Bank of Ireland and housebuilder Glenveagh at the end of a week marked by global stock market tremors.