WASHINGTON, Nov 5 ― World equities markets fluctuated after hitting new records yesterday and ended mixed following the US Federal Reserve's decision to start scaling back its bond-buying programme this month.
The report, from Saudi-owned Al Arabiya TV, came after the nation, along with other Organization of the Petroleum Exporting Countries and its allies, agreed to stick to previously agreed-upon production increases.“The market has really had to reset itself as far as exactly how quickly some of these major central banks are going to be tightening policies,” said Edward Moya, a senior market analyst at Oanda.
The S&P 500 gained 0.42 per cent and the Nasdaq Composite added 0.81 per cent. The Dow Jones Industrial Average fell 0.09 per cent. Fed Chair Jerome Powell, however, did sound slightly less sure inflationary forces would prove to be fleeting, enough to hit longer-term bonds and “bear steepen” the yield curve.