are also pointing to further losses at Thursday's market open, accelerating Wednesday's declines for major indexes as yields climbed. Last week, the 10-year yield surged to a high of 1.6% in a move that some described as a "flash" spike, but which sparked fears about stock valuations and rising inflation.
Tech stocks have been the major casualty of the retreat, with investors pivoting to stocks seen as having potential to benefit from an economic recovery, in the wake of Covid-19 vaccination rollouts and progress towards a U.S. fiscal stimulus package. Investors stateside will be keeping an eye on a speech from Federal Reserve Chairman Jerome Powell later on Thursday for indications as to the direction of growth and inflation.
On the data front, IHS Markit construction PMI readings for February are due Thursday morning from the U.K., Germany, France, Italy and the wider euro zone. It's another busy day for earnings in Europe, which promise to be a key driver of individual share price action. Thales, Lufthansa, Merck, ProSiebenSat.1 and Aviva were among those reporting before the bell.posted a smaller-than-expected net loss in the fourth quarter but saw a full-year loss of 6.7 billion-euro in 2020. The airline warned that it will struggle to profit from flights before the end of 2021 as the pandemic continues to hammer air travel demand.
Why is Larry David working the floor at a European stock exchange?
It's the other way round. Investors exit everything, incl bonds, because they are pussies (cont. to cite upcoming inflation when Fed have repeatedly confirm 2be a non-issue), which pushes yields up. Self fulfilling sell off cycle. But guess who triggered, that? Yes, correct.
horrible