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Many analysts had been betting on a rate hike when Fed officials next meet in September given sustained strength in the world’s largest economy.

The move also creates potential headaches for US President Barack Obama as he prepares to host Chinese President Xi Jinping at a summit in September.

“The markets’ response to Chinese surprise devaluation of its currency against the US dollar is ample evidence that investors worry about further measures across Asian countries in order to prop up export competitiveness”, said Anand James, the co-head of the...

But while the term “flip-flopper” may have cost John Kerry the US presidency in 2004, for Mr. Tsipras, the label has not yet been pinned to his lapel.

European stocks fell into a correction on Friday, with a dismal week for the market rounding off with downbeat data from China and Greece facing a snap election.

The S&P 500 dropped 43.88 points, or 2.1 percent, to 2,035.73 and the Nasdaq composite lost 141.56 points, or 2.8 percent, to 4,877.49.

Strategists and traders, noting the lack of major U.S. economic news on Thursday, said the drop in stocks was also likely tied to programmed selling, which came after the S&P 500 moved below one of its most closely watched indicators, a 200-day moving average.

Greece seems to be increasingly heading towards the holding of early elections after the government of Prime Minister Alexis Tsipras has lost vital support from his party in parliament. Elections will be held within a month, with government officials saying September 20 would be...

In an announcement on national Greek television, seven months after taking office on the promise of rolling back austerity and staunchly opposed to additional bailouts from Europe, Greek prime minister Alexis Tsipras has resigned.

PetroChina Co. paced losses for energy companies as oil extended its decline from the lowest close in more than six years.

The European Stability Mechanism will release the first tranche of funds to enable Athens to meet a €3.2bn bond repayment due to the European Central Bank on Thursday.

Some participants also discussed the risk that a possible divergence in interest rates in the United States and overseas might lead to further appreciation of the dollar, extending the downward pressure on commodity prices and the weakness in net exports.

On its part, China has increased its presence on the continent funding major infrastructure projects in a number of Sub-Saharan Africa countries as it sort to gain a upper hand in deals that involve raw material for its fast growing industries back home.

Finance ministers of the 19-nation euro single currency group have approved the first 26 billion euros ($29 billion) of a vast new bailout package to help rebuild Greece’s shattered economy.

U.S. gold for December delivery rose 0.4 percent to $1,117.30 an ounce.