Roundup: S&P -1.43%, Dow -0.94%, Nasdaq -1.84%, Gold $1,349.70, London -0.96%, Germany -2.34%, France -2.35%, Nikkei at pixel: -1.09%
Copper broke a key support level yesterday, signaling more selling ahead for the metal and possibly stocks and other risk assets. “When I look at copper, it reminds me a lot of gold before that big breakdown.” (CNBC)
Bundesbank President: Ask not what the central bank do for you country, but what the country can do for you? Central banks in the U.S. and Japan are continuing aggressive stimulus. Whereas the ECB is an outlier, keeping interest rates steady the past nine months despite the euro zone’s economic weakness. Its balance sheet is shrinking while those of the Federal Reserve and Bank of Japan are rising. (WSJ)
The Saradha Group, one of eastern India’s biggest deposit-taking companies, is on the verge of collapse. More such companies are likely to collapse in the same way. (LiveMint)
There is a PIL in the Indian Supreme Court seeking a ban on Internet pornography and making the watching of it a non-bailable offence. To which MLAs say: Good luck with that! (LiveMint)
A brief history of price-controls in America. A must read wannabe socialists among us: Markets, prices and justice
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