Stocks fell on Thursday as central banks around the world hiked interest rates to fight inflation. Central banks in Europe and Asia raised interest rates a day after the Federal Reserve made another big rate hike and indicated that more were on the way.
Air India in sale, leaseback deal for 34 engines with US-based Willis Lease Finance
Air India has signed a sale and leaseback agreement with US-based Willis Lease Finance Corp for 34 engines to power 17 aircraft of the Airbus A320 family.
Under the agreement, Willis Lease will purchase from Air India 34 CFM56-5B engines to power 13 Airbus A321 aircraft and 4 Airbus A320 airplanes and lease them back to the airline. Willis Lease will also provide replacement and standby spare engines to Air India as per the agreement.
Rupee tanks 83 paise to close at record low of 80.79 on Fed rate hike
The rupee plunged by 83 paise — its biggest single-day loss in nearly seven months — to close at an all-time low of 80.79 against the US dollar on Thursday after the US Federal Reserve’s interest rate hike and its hawkish stance weighed on investor sentiments.
Forex traders said the US Fed’s rate hike and escalation of geopolitical risk in Ukraine sapped risk appetite.
Moreover, the strength of the American currency in the overseas market, a muted trend in domestic equities, risk-off mood and firm crude oil prices weighed on the rupee.
At the interbank foreign exchange market, the local currency opened at 80.27, then fell further to an all-time intra-day low of 80.95 against the American currency. (PTI)
Wall Street ends lower as global central banks raise rates
Stocks fell again Thursday, deepening Wall Street’s losses for the week, as central banks around the world hiked interest rates to fight inflation.
The S&P 500 fell 0.8%, its third straight drop. The benchmark index is down about 3% so far this week.
The Dow Jones Industrial Average fell 0.4% and the Nasdaq composite lost 1.4%. The Russell 2000 index of smaller company stocks fell 2.3%, a sign investors are worried about the economy. The major indexes are on pace for their fifth weekly loss in six weeks.
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