Mainland Chinese stocks were down by the early morning. The Shanghai Composite was down by 0.01% to 3,441.86. Hong Kong’s Hang Seng Index was up about 0.13% to 27,997.75.
Japan’s benchmark Nikkei average. Nikkei 225 is trading down 0.76 per cent at 28,397.63 on Wednesday , while the Australian Index S&P / ASX 200 fell 0.58 percent to 7,055.71. South Korea’s Kospi was down by 1.29% to 3,168.98.
The FTSE MIB climbed down by 1.64% to 24,396.46 In the cash markets, the DAX futures Germany was trading 1.82% lower at 15,119.25. CAC 40 futures in France climbed up by 0.01% to 6,385.57, while the FTSE 100 futures in the U.K was down by 2.47% to 6,947.97, at the time of writing.
In the U.S. on Wall Street, the Dow Jones Industrial Average closed 1.36% down at 34,269.38 the S&P 500 was down 0.87% to 4,152.56 and the Nasdaq 100 was down 0.09% at 13,389.03.
In the Forex market, GBPUSD was down 0.18% at 1.4116. The USDJPY was up 0.23% at 108.86. The USDCHF was up 0.23% at 0.9058. EURUSD was down 0.23% at 1.2118, EUR/GBP was up 0.02% at 0.8589, at the time of writing.
In the commodity market, U.S. Gold futures fell 0.45% at $1,827.85. Elsewhere, Silver futures fell 0.77% to $27.453 per ounce, Platinum fell 0.88% at $1,229.05 per ounce, and Palladium was up 0.27% at $2,946.50.
Brent crude oil was down 0.44% to $68.25 barrel while U.S. West Texas Intermediate (CLc1) fell 0.37% at $65.0 6.
In the Cryptocurrency Markets, BTCUSD rose 4.87% at $57,857.9 , Ethereum at 4,334.41 up by 12.42%, Litecoin at 391.582 up 11.18%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
Daimler down 2.42% at 72.100. Apple Inc. down 0.74% at $126.85 , Amazon.com up 1.05 % at $ 3,223.49, TESLA Inc down 1.88% at $617.04, SAP down 2.08% at 113.46, Microsoft down 0.38% at $246.18 , Adidas down 1.22% at 284.65.
The U.S. Senate voted on Tuesday to repeal a regulation introduced during former President Donald Trump’s administration that Democrats say allows predatory lenders to skirt state consumer protections.
Lawmakers voted 52-47 to repeal the “true lender” rule, marking the first time Democrats have rolled back a Trump-era financial rule using the Congressional Review Act, a 1996 law that gives Congress the ability to rescind recently enacted regulations.
The White House said in a statement it supported the resolution repealing the rule, which now heads to the Democratic-led House, where it is also expected to pass.
The targeted rule, written last year by the Office of the Comptroller of the Currency, attempted to clarify whether state or federal laws applied when lenders like fintechs partnered with traditional banks.
But Democrats and consumer advocates warned it would allow predatory lenders to skirt state usury laws and interest rate caps by partnering with national banks that enjoy more lax federal rules.
The OCC said when it drafted the rule that it was aiming to provide legal certainty to lenders as to whether state or federal laws applied to their business.
The regulator determined that if the bank is named as the lender in the loan agreement, then the relevant bank rules apply, meaning any partnerships with national banks would operate under federal rules, which generally are more relaxed on lending restrictions.
The European Commission expects to finish work soon on a COVID-19 certificate that could allow citizens to travel more easily this summer in the 27-nation bloc, the EU executive said on Tuesday after a meeting with European affairs ministers.
The pass would allow those vaccinated, recovered from COVID-19 or with negative test results to cross borders in a union where restrictions on movement have weighed heavily on the travel and tourism industry for more than a year.
“This is a priority for our citizens and therefore I believe we will deliver (on the certificate) before summer,” Commission Vice-President Maros Sefcovic said after the meeting in Brussels. He said he expected a full roll-out by the summer.
A two week pilot project to test the technology a few countries at a time began on Monday, the EU Commission said.
But EU governments, the European Parliament and the Commission must agree on the design of the certificate. They must also decide whether faster, but less accurate, COVID-19 antigen tests can be included.
Sefcovic called on all sides to work together to complete the legislative, as well as the technical, work as quickly as possible, noting the complexity of the job.
“For the certificate to work, it has to be on smartphones, it has to be interoperable, possible to check it. So it is quite the task to do it at the pan-European level”, Sefcovic said.
The European Parliament says no one will be obliged to use the EU certificate and it must not be considered a vaccine passport.
Sefcovic said the Commission was working closely to inform the United States, the World Health Organization and others about its progress to allow the certificate to be used on a wider scale.
As the vaccination campaign in the EU is gaining speed with 200 million jabs delivered and COVID-19 infections rates falling, Europe is starting to reopen cities and beaches, raising hopes for the summer holiday season.
German Europe Minister Michael Roth called for a swift agreement.
“This is not only important for countries depending on tourism but for all of us: It is … a clear signal for freedom of movement and for mobility in the European Union,” Roth said in Brussels.
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