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Stocks surge, dollar sags as investors digest Fed, Evergrande

Mount Equity Group Tokyo, Japan > News > Markets > Stocks surge, dollar sags as investors digest Fed, Evergrande
  • MSCI world stock index recoups losses from Monday swoon
  • Fed says will likely begin tapering by as soon as November
  • Dollar retreats from 1-month high, gold loses ground
  • Evergrande soars as debt crunch looms
  • Oil prices boosted by tight supplies

NEW YORK/LONDON, Sept 23 (Reuters) – World stock markets rallied on Thursday and the U.S. dollar retreated from one-month highs as worries faded about contagion from China Evergrande and as investors digested the Federal Reserve’s plans for reining in U.S. stimulus.

Wall Street’s main indexes all ended up at least 1% following solid advances in European markets.

MSCI’s gauge of stocks across the globe (.MIWD00000PUS) jumped 1.01%, its biggest percentage rise in a month and for a third straight session of gains that brought it all the way back from Monday, when it posted its biggest percentage drop in two months after fears linked to debt-laden property group Evergrande.

It was a case of “unwind of…

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