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If Goldman Sachs’s estimates end up being accurate, this would mean a drop of approximately 3 percent for the S&P 500, its first negative year since 2011.

Analysts at Commerzbank said: “As we had anticipated, the US Federal Reserve chose not to raise interest rates yet yesterday”.

Economic policy, however, is no surer, no more confident, certainly no more confident than the US Fed for example.

International Monetary Fund Managing Director Christine Lagarde said growth was picking up in the euro area and Japan and still looked robust in the United States and Britain.

“Therefore, the Reserve Bank has front-loaded policy action by a reduction in the policy rate by 50 basis points”. As it is, the ASSOCHAM does not expect the exports to go beyond Dollars 268 billion in the current fiscal as against USD 310 billion.

Nothing can move Rajan to reduce rates except the economic fundamentals.

Hitting risk sentiment, Glencore shares fell to a record low at the start of the week on concerns over the company’s ability to withstand a prolonged decline in prices of metals.

Take for instance, The State Bank of India (SBI) country’s largest lender slashed its lending rate by 0.40 per cent. The new rate will stand at 9.30 per cent from 5 October onward.

A separate chapter in the IMF’s regular update on the world economy, which is expected to highlight a weaker outlook for global growth, also predicted more pain ahead for commodity exporters amid continued low prices for oil and other raw materials.

Putin, without naming the United States, accused Washington of trying to enforce its will on others and mulling a possible reform of the U.N., which he suggested stands in the way of the perceived US domination.

The Chinese president is leaving New York for Beijing on Monday afternoon after a three-day stay in the metropolis for a series of activities at the United Nations headquarters and a four-day state visit to the, his first since assuming office in 2013.

Banking stocks continue to reel in the wake of the Fed decision as hopes that higher rates would translate to fatter profits on loans have been dashed.

First, the Reserve Bank of India has been saying that monetary policy will be in the neutral gear when policy interest rates are two percentage points above the inflation rate.

Biotech stocks had their worst week since 2008 last week, as stocks like Gilead Sciences (GILD), Amgen (AMGN), Biogen (BIIB) and Regeneron (REGN) got hammered following Hillary Clinton’s drug-pricing tweet.

Investors sold even some of the year’s most resilient stocks.