A person stands in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Monday, Oct. 23, 2023, in Tokyo. A person walks in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Monday, Oct. 23, 2023, in Tokyo. People walk in front of an electronic stock board showing Japan’s Nikkei 225 index at a securities firm Monday, Oct. 23, 2023, in Tokyo.
Tokyo’s Nikkei 225 index lost 0.8% to 31,007.12 and the Kospi in Seoul lost 0.5% to 2,363.67. Australia’s S&P/ASX 200 sank 1% to 6,837.70.On Friday, Wall Street racked up more losses to close out its worst week in a month. The S&P 500 fell 1.3% for a fourth straight drop to 4,224.16. The Dow sank 0.9% to 33,127.28 and the Nasdaq composite tumbled 1.5% to 12,983.81.
The yield on the 10-year Treasury was hanging within a hair of 5% early Friday morning. It’s been generally catching up to the Federal Reserve’s main interest rate, which is already above 5.25% — its highest level since 2001. Other regional banks were also weaker. Comerica fell 8.5% despite reporting better profit for the summer than expected. Huntington Bancshares sank 3.9% after likewise topping earnings forecasts.
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