Asian markets extended their rout and the dollar hit 15-month lows against the yen Thursday after Federal Reserve boss Janet Yellen raised concerns about the global economy, essentially quashing the chances of another US rate hike any time soon. Hong Kong led a broad sell-off across the region, while an ongoing supply glut and production splurge saw oil prices sink below $27 a barrel. Dealers continued their flight to safe investments that has played out across trading floors from Asia to the Americas this week as they fret about a possible global recession.
FERGUSON, Mo. (AP) â The U.S. Department of Justice is suing the city of Ferguson after the City Council failed to approve an agreement that sought to address concerns about police and municipal court practices in the St. Louis suburb.
HELSINKI (AP) â Telecommunications and wireless equipment maker Nokia Corp. says fourth-quarter profit grew more than 50 percent on a slight increase in sales, buoyed by income from licensing fees.