Finance minister Rishi Sunak delivered what he hopes will be a last big spending splurge to get Britain's economy through the COVID-19 crisis, and announced a corporate tax hike from 2023 as he began to focus on the huge hit to the public finances.
Wall Street fell on Wednesday as investors sold off technology stocks, while shares from Asia to Europe were flat, while the dollar rose even as U.S. jobs data disappointed investors and virtual curreny bitcoin jumped.
By Suzanne Barlyn
4 Min Read
NEW YORK (Reuters) - Wall Street fell on Wednesday as investors sold off technology stocks, while shares from Asia to Europe were flat, while the dollar rose even as U.S. jobs data disappointed investors and virtual curreny bitcoin jumped.
FILE PHOTO: Trader Frank Masiello talks on his phone on Wall St. outside the New York Stock Exchange (NYSE) in New York, U.S., January 15, 2021. REUTERS/Brendan McDermid/File Photo
The pan-European STOXX 600 index rose 0.05% and MSCI’s gauge of stocks across the globe shed 0.68%.
“We’re seeing a lot of what we’ve seen over the past week or so, that is markets being stymied to some extent by rising interest rates,” said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas.
Low corporation tax rates might not be the best way to attract capital investment, British finance minister Rishi Sunak said on Wednesday after announcing the country's first hike to the rate in nearly half a century.
British finance minister Rishi Sunak has told other government ministers that the country needs to face up to the very high borrowing that has been needed during the COVID pandemic, a spokesman for the prime minister said.