News Highlights: Top Global Markets News of the Day

By the summer of 2007, the Federal Reserve was struggling to contain the fallout from the mortgage meltdown, but many investors were still betting a crisis would be averted. The S&P 500 closed at a record on Oct. 9, 2007. It would be its last until March 2013. Features Dow Jones Newswires

EPA to Withdraw Power Plant Rules

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The Trump administration Tuesday will formally withdraw federal limits on carbon emissions at power plants, Environmental Protection Agency Administrator Scott Pruitt said, triggering the next stage of what is likely a yearslong fight over the Obama administration's centerpiece for slowing climate change.

Lautenschläger Says ECB Should Start Cutting Bond Purchases Next Year

The European Central Bank should start cutting its bond purchases at the beginning of next year, a member of the central bank's Executive Board said.

Critic of the Establishment Challenges Japan's Leader

The woman who is launching a campaign to oust Japanese Prime Minister Shinzo Abe aims to strike a delicate balance: Be the face of change, but don't promise too much change.

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Turkish Lira Slumps on Diplomatic Spat

The Turkish lira tumbled against the U.S. dollar as a diplomatic row between the two countries escalated.

Mexico Posts Record Auto Output, Exports as Nafta Talks Loom

Mexico produced a record number of cars and light trucks in September, backed by greater exports to the U.S., Canada and Europe as a two-year boom in new-car domestic sales began to wane.

U.K., EU Disagree Over How to Get Out of Brexit Stalemate

British Prime Minister Theresa May signaled that she expects the European Union to offer concessions over Brexit before the U.K. will make more of its own as negotiations resumed Monday.

Global Economy Set for Strong Growth Into 2018

The global economy is set for continued strong growth into 2018, but the U.K. and Russia are likely to miss out, according to leading indicators released by the OECD.

China Forex Reserves Rise to Highest Level in Nearly a Year

China's foreign-exchange reserves rose to $3.109 trillion in September, the highest level since October 2016, giving Beijing a breather in its campaign to constrain capital outflows.

Ten Years Ago, the S&P 500 Hit Its Pre-Crisis Peak

Battered Dollar Roars Back, Catching Investors by Surprise

Investors are buying the U.S. dollar again, betting that an increasingly aggressive Federal Reserve and tumult in European politics will help lift the currency as it rebounds following its longest slide in a decade.

(END) Dow Jones Newswires

October 09, 2017 21:15 ET (01:15 GMT)