{"id":112706,"date":"2021-04-23T10:43:12","date_gmt":"2021-04-23T10:43:12","guid":{"rendered":"https:\/\/fin2me.com\/?p=112706"},"modified":"2021-04-23T10:43:12","modified_gmt":"2021-04-23T10:43:12","slug":"world-stocks-steady-bitcoin-slides-on-u-s-tax-hike-prospect","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/world-stocks-steady-bitcoin-slides-on-u-s-tax-hike-prospect\/","title":{"rendered":"World stocks steady, Bitcoin slides on U.S. tax hike prospect"},"content":{"rendered":"

LONDON (Reuters) -Global shares steadied on Friday around 1% below record highs reached earlier this week, though Bitcoin hit its lowest in nearly seven weeks as investors assessed the impact of a possible U.S. capital gains tax hike.<\/p>

FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS\/Toby Melville<\/figcaption>

President Joe Biden will roll out a plan to raise taxes on the wealthiest Americans, including the largest-ever increase in levies on investment gains, to fund about $1 trillion in childcare, universal pre-kindergarten education and paid leave for workers, sources familiar with the proposal said.<\/p>\n

Biden\u2019s administration is seeking an increase in the capital gains tax to near 40% for wealthy individuals, almost double the current rate, the sources said.<\/p>\n

\u201cThe devil is always going to be in the detail,\u201d said Ned Rumpeltin, European head of currency strategy at TD Securities, adding that the Democrats\u2019 narrow majority could make the proposals hard to pass.<\/p>\n

The Dow Jones Industrial Average ended down nearly 1% and European stocks dipped 0.2%, though S&P futures gained 0.25% at 0814 GMT.<\/p>\n

Bitcoin dropped below the $50,000 level to its lowest level in nearly seven weeks, down 7%. Ethereum slid more than 10% to $2,165<\/p>\n

World stocks edged up 0.1% but stuck below record highs close to 3,000 set on Monday.<\/p>\n

MSCI\u2019s broadest index of Asia-Pacific shares outside Japan rose 0.65%, with Chinese blue-chip shares up 0.91%, supported by green and healthcare stocks. Japan\u2019s Nikkei stock index slid 0.57%.<\/p>\n

\u201cThe move on the Dow overnight I think needs to be seen in the context that it\u2019s had a remarkable run up,\u201d said James McGlew, executive director of corporate stockbroking at Argonaut.<\/p>\n

\u201cI don\u2019t think people are completely negative on the fact that those tax changes are being flagged. Ultimately it\u2019s money that will feed back into the economy.\u201d<\/p>\n

The euro zone economy will grow more slowly this year than earlier thought and a temporary gain in inflation is likely to exceed a previous projection, a European Central Bank survey showed on Friday, a day after the bank left policy unchanged.<\/p>\n

However, IHS Markit\u2019s flash Composite Purchasing Managers\u2019 Index, seen as a good guide to economic health, rose to a nine-month high of 53.7 in April, confounding expectations in a Reuters poll for a dip to 52.8. Anything above 50 indicates growth.<\/p>\n

The euro rose 0.3% on the day to $1.2052 after dipping a day earlier, within sight of a seven-week high hit earlier this week.<\/p>\n

The dollar was steady against the yen at 107.91 and the dollar index, which tracks it against a basket of currencies of other major trading partners, fell 0.27%.<\/p>\n

The yield on benchmark 10-year Treasury notes was higher at 1.5613% after the capital gains tax reports pulled yields lower on Thursday. Germany\u2019s 10-year government bond yield, the benchmark of the euro area, was flat.<\/p>\n

Oil prices rose, buoyed by hopes demand will recover as economic growth picks up and lockdowns ease. Worries about India\u2019s surging second wave of COVID-19 cases limited gains. [O\/R]<\/p>\n

U.S. crude rose 0.38% to $61.81 a barrel and global benchmark Brent crude added 0.38% to $65.65 per barrel.<\/p>\n

Spot gold dipped 0.1% to $1,782 per ounce but was still set for a weekly rise on soft Treasury yields and a subdued dollar. [GOL\/]<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

LONDON (Reuters) -Global shares steadied on Friday around 1% below record highs reached earlier this week, though Bitcoin hit its lowest in nearly seven weeks […]<\/p>\n","protected":false},"author":3,"featured_media":112705,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nWorld stocks steady, Bitcoin slides on U.S. tax hike prospect - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/world-stocks-steady-bitcoin-slides-on-u-s-tax-hike-prospect\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World stocks steady, Bitcoin slides on U.S. tax hike prospect - Fin2me\" \/>\n<meta property=\"og:description\" content=\"LONDON (Reuters) -Global shares steadied on Friday around 1% below record highs reached earlier this week, though Bitcoin hit its lowest in nearly seven weeks [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/business\/world-stocks-steady-bitcoin-slides-on-u-s-tax-hike-prospect\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-23T10:43:12+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2021\/04\/World-stocks-steady-Bitcoin-slides-on-U.S.-tax-hike-prospect.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/business\/world-stocks-steady-bitcoin-slides-on-u-s-tax-hike-prospect\/\",\"url\":\"https:\/\/fin2me.com\/business\/world-stocks-steady-bitcoin-slides-on-u-s-tax-hike-prospect\/\",\"name\":\"World stocks steady, Bitcoin slides on U.S. tax hike prospect - 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