News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Global Markets Fall on Worries About Central Bank Tightening

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Equity markets across the Asia-Pacific region were lower, tracking declines in the U.S. and Europe, as investors become more cautious about the prospects of global central bank tightening.

North Korean Money-Laundering Probe Focuses on U.S. Bank Transactions

A federal court in Washington, D.C., has granted the Justice Department sweeping authority to investigate alleged North Korean money laundering involving a Chinese coal-trading network.

Fed's Fischer Warns Against Playing Games With U.S. Debt-Ceiling Law

Federal Reserve Vice Chairman Stanley Fischer warned U.S. elected leaders that gamesmanship over the nation's debt ceiling could eventually prove catastrophic.

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Silver Futures Plunge, Rebound in Latest Flash Crash

Silver prices briefly tumbled early in Asia with futures plunging nearly 10%, likely due to a trading error, before quickly reversing most of that decline.

Fed's Fischer Says Government Can Help Boost Productivity

Federal Reserve Vice Chairman Stanley Fischer said government actions, if done correctly, can do a lot to reinvigorate moribund levels of productivity.

Mester Says Fed Should Start Portfolio Runoff 'Sooner Rather Than Later'

Cleveland Fed President Loretta Mester said in an interview she supports implementing "sooner rather than later" the Fed's plan to slowly shrink its $4.5 trillion portfolio of assets and other holdings this year.

BOJ Conducts Fixed-Rate Bond-Buying Operation to Rein in Yields

The Bank of Japan tried to rein in rising Japanese government bond yields Friday by conducting a fixed-rate operation to buy bonds maturing in 5-10 years, effectively telling market players it wasn't prepared to let yields edge up further from its target rate around zero.

Japan Base Wages Rise at Fastest Pace in Over 17 Years

Japanese base wages jump in May at the fastest pace in more than 17 years, though the rise is still likely too modest to help Japan make much progress toward its 2% inflation target.

Egypt's Central Bank Raises Key Interest Rates to Curb Inflation

Egypt's Central Bank raised key interest rates by 200 basis points each, a surprise move aimed at controlling inflation after the government increased the price of fuel and electricity.

Continued Recovery Creates Potential for Policy Normalization, ECB Official Says

The eurozone's economic recovery opens the prospect for a gradual normalization of monetary policy, a key hawkish member of the European Central Bank's Governing Council said.

(END) Dow Jones Newswires

July 07, 2017 01:16 ET (05:16 GMT)