For number four with the likes of jason day and. Annika sorenstam handicaps the field for us. Melissa first we go back to the markets. Stocks seeing biggest intraday drop since february. Lori rothman on floor of new york stock exchange. What is dragging stocks down today . Reporter melissa, looks like the s p 500 drops in negative territory for 2016 by one point. 2042. A lot of technicals and fundamentals at play. Catch you update on technicals. 2040 is the support level on s p. We kind of held there. The selling really stoed or stemmed right when the s p 20 to 2040nd it held there. Well close up, 20442. On fundamental side, yen agast the u. S. Dollar, not to get into tthe weeds, that is referendum lack of confidence in the bank of japan and negative Interest Rates. Imf christine la r leg guard warned Christine Lagarde warn the Central Banks they were not tough enouough on monetary poli. Fed official reported that there will be two more rate hikes this year. When all said and done call
And maybe two more. Ramy and brexit, the date of decision draws near. Experts forecast the fallout. It will be a shock if we were to leave. I think there is consensus on that. There is the freedom to find new markets in the world and take back control. Ramy it is all straight ahead on bloomberg best. Ramy hello and welcome. I am ramy inocencio. This is bloomberg best, the weekly review of most important Business News, analysis and interviews from around the world. Lets look at the headlines. And we start in the middle east. Bloomberg has been reporting on saudi arabias plan to diversify its economy and actually reduce its dependence on oil. They officially reduced thats released a blueprint for its future. Mark all eyes on saudi arabia, officials unveiling a blueprint for diversifying the economy. The economic shakeup has been led by the deputy crown Prince Mohammed bin salman, trying to away from the decadeslong reliance on crude. Take us through this blueprint. What do we know so far
We think they can handle a franchise. We have a rate increase, maybe two more. Ramy and brexit, the date of decision draws near. Experts forecast the follow. It will be a shock if we were to leave. There is consensus on that. There is the freedom to find new markets in the world and take back control. Ramy it is all straight ahead on bloomberg best. Ramy hello and welcome. I am ramy inocencio. This is bloomberg best, the most important review of analysis and interviews from around the world. Lets look at the headlines. We start in the middle east. Bloomberg has been reporting on saudi arabias plan to diversify its economy and actually reduce its dependence on oil. On monday, the kingdom officially released the blueprint for its future. Mark all eyes on saudi arabia, the economic shakeup has been led by the deputy crown Prince Mohammed is meant to steal the Worlds Largest oil producer away from its decadelong reliance on crude. Take us through this blueprint. What do we know so far . An
Today is the worst today. Is the worst behind this now . Behind us now . Iss than an hour from open, lets take you to the bloomberg and show you what is happening in terms of expectation. This could all change later on. At the moment we are called down in europe. Your stocks down. 6 . Euro stoxx down. 6 . Dax is off. 4 . Payrolls could change everything. Lets take you to the other assets around the world. Clearly the aussie is focused, down 1 . 53. 90 is where we are trading. How far behind the curve is the aussie gain . Are we going to see further cuts . Brent trading down. Shanghai down 1. 64. Barely flat. What do you need to know . Heres earthward news with juliette saly. Juliette the aussie dollar has dropped to a record after it reduced its outlook for core inflation. Underlying inflation of 1 to 2 , down from the 2 to 3 forecast in february. It will be a challenge for governor phillip low. U. K. Voters have given their first verdict on germany kormans Jeremy Corbyns labour party.
225 putting the figure had 20 million, although honda will not confirm that. The elections are underway in the philippines with more than 50 million voters eligible. At stake is an economy described as asias rising tiger. Follow me on twitter. Hong kong markets getting underway in 30 minutes. We are a pickup on index, up over three quarters of 1 . In two weeks. In this will be the first time japan has been online for all five trading days of the week after being shut last week and that prior friday. A little bit of a comeback today , helping alongside the weaker yen. Taiwan just coming online. Singapore, a good opening. Pretty flat in malaysia on the open. The south korea underperforming. The Australian Market had a shaky start. We are seeing gains coming through in the early session. Asx 200 up. New zealand, down 1 10 of 1 . We will see Better Movement in the region today. Positive gains coming through in the u. S. Session on friday. Betting thatomists the likelihood of a jew rate hik