BusinessCurrency traders pass by the screen showing the Korea Composite Stock Price Index , left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, April 17, 2024. – Asian shares were trading mixed Wednesday, as expectations resurfaced that U.S. interest rates may stay high for a while.
On Wall Street, the S&P 500 fell 10.41 points, or 0.2%, to 5,051.41. The index deepened its loss from the day before, when it sank under the pressure brought by a jump in Treasury yields. “The recent data have clearly not given us greater confidence and instead indicate that it’s likely to take longer than expected to achieve that confidence,” Powell said, referring to a string of reports this year that showed
But yields later pared their gains as the afternoon progressed, and the two-year yield drifted back to 4.98%. That's still up from 4.91% late Monday. The stock of Donald Trump's social-media company also slumped again. Trump Media & Technology Group fell another 14.2% to follow up on its
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