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THE Australian share market has lost around $41 billion in early trade, as BHP Billiton shares tumble below $22 for the first time since the global financial crisis.

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.

The Australian share market was slightly higher in early trade, with banks in positive territory but miners and energy stocks trading lower.

European markets ended solidly in negative territory as concerns over China returned to the forefront, after some disappointing economic data, prompting further weakness in commodity prices. In America, the US crude benchmark CLc1, West Texas Intermediate (WTI) settled down...

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.

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.

The greenback rose on Friday as dollar bulls took heart after Federal Reserve Chair Janet Yellen kept the door open to a hike in interest rates later this year, a week after the central bank delayed aa long-anticipated move.

The report, by Rebecca Williams and Adam Richardson, says it is important the Reserve Bank knows what a neutral rate would be, so it can gauge how expansionary or contractionary its current monetary policy settings are for the market.

In a speech late Thursday, Fed Chair Janet Yellen, who spoke a week after the Fed delayed a long-anticipated rate hike, said she and other Fed policymakers do not expect recent global economic and financial market developments to significantly affect the central bank’s policy.

The fears were strong enough for the Fed to leave its benchmark interest rate at 0%, where it’s been since the depths of the financial crisis in 2008.

To help maintain liquidity in the mortgage market, the committee will continue to reinvest principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities, as well as rolling over maturing Treasury securities at...

Obama said he described to Xi the “tools” the administration has to deter and punish cybercrime and cyberattacks.

The USA economy expanded more than previously estimated in the second quarter on stronger consumer spending and construction, the second upward revision in a row.

Reserve Bank governor Lesetja Kganyago has announced that the Reserve Bank’s repo rate will remain unchanged “for now”.

Increasingly, economists bet that the Bank of Japan will boost its quantitative easing at its next meeting in October.