News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Financials Weigh on Global Stocks

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Global stocks continued their selloff Wednesday, notably in financials, with Asian equities following up on the near-1% declines seen on Wall Street as a holiday-shortened trading week began there.

Fed's Kaplan Urges Patience With Further Rate Increases

Federal Reserve Bank of Dallas President Robert Kaplan urged patience with regards to any further rate increases in the near term to give central bankers more time to see if inflationary pressures increase.

Array of Threats Stir Up Markets

U.S. government bonds rallied and banking and insurance stocks tumbled in the latest signs of rising anxiety hitting financial markets.

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Investors Rattled by Hurricane Irma

Traders were bracing for another hurricane to hit the U.S., sending insurance stocks lower and driving up the price of orange-juice futures.

Gasoline Hits Fresh High as Refineries Restart

As gasoline prices at the pump hit a fresh two-year high, the futures market signaled the supply crunch for fuel created by Hurricane Harvey will soon ease.

Lodging REITs Could Be Slammed by Hurricane Irma

A number of hotel owners with exposure to Florida and the Caribbean islands could be affected by Hurricane Irma, a category five storm expected to hit the islands by Wednesday and possibly make landfall in Florida this weekend.

SEC Chief Wants Investors to Better Understand Cyberrisk

The chairman of the Securities and Exchange Commission said Tuesday that regulators and Wall Street need to do more to educate investors about the serious risks that companies and the financial system face from cyberintrusions.

Fed's Kashkari Warns Rate Increases May Be Hurting Economy

Minneapolis Fed President Neel Kashkari amped up his criticism of rate rises by the U.S. central bank, saying they may be playing a part in persistently weak price pressures and a lack of wage gains.

Senate GOP Leaders to Add Debt-Limit Increase to Harvey-Aid Bill

Senate GOP leaders indicated they will tie an increase in the nation's borrowing limit to a spending bill for victims of Tropical Storm Harvey, a move that could boost the debt-limit legislation's chances of passage ahead of a deadline later this month.

GOP Faces Sprint on Tax Changes

The U.S. policy makers on taxes known collectively as the "Big Six" gathered with President Donald Trump at the White House as Republicans try to rewrite significant portions of the tax system by year's end.

(END) Dow Jones Newswires

September 05, 2017 23:15 ET (03:15 GMT)