Stock market today: Asian shares mostly decline after Wall Street drops on higher bond yields

A currency trader passes by the screens showing the Korea Composite Stock Price Index , top 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, Friday, Aug. 18, 2023. – Asian shares mostly slipped Friday as rising yields in the bond market on Wall Street set off expectations that high interest rates would continue in the U.S.

Also on investors' minds is what appears to be China's shaky recovery from the negative economic effects of the coronavirus pandemic. The losses were widespread. Some of the hardest hit were high-growth stocks seen as the most vulnerable to higher interest rates. Meta Platforms sank 3.1% and Tesla dropped 2.8%. Apple fell 1.5% and was the heaviest weight on the S&P 500.

Higher yields are good for bond investors, who get fatter payouts for their investments. But it hurts stock prices because investors are suddenly less inclined to pay high prices for investments that aren't as steady as bonds. Other strong economic data recently, including a report showing an acceleration in sales growth at U.S. retailers, mean the Fed could hike interest rates again at some point, he said. Hopes had been rising on Wall Street that the Fed could be done after it raised its main rate last month to the highest level in more than two decades.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Stock market today: Asian shares mostly decline after Wall Street drops on higher bond yieldsAsian shares have slipped as rising yields in the bond market on Wall Street set off expectations that high interest rates would continue in the U.S.
Sumber: AP - 🏆 728. / 51 Baca lebih lajut »

Stock market today: Asian shares mostly decline after Wall Street drops on higher bond yieldsAsian shares have slipped as rising yields in the bond market on Wall Street set off expectations that high interest rates would continue in the U.S. Benchmarks fell in Tokyo, Hong Kong, Shanghai and Seoul, and were little changed in Sydney.
Sumber: ksatnews - 🏆 442. / 53 Baca lebih lajut »

Stock market today: Wall Street rises in early trading, though bond yields remain highStocks are opening slightly higher on Wall Street following some encouraging profit reports from big companies.
Sumber: ksatnews - 🏆 442. / 53 Baca lebih lajut »

Applied Materials earnings, outlook top Wall Street expectations, and stock risesApplied Materials' stock rose after hours Thursday as both earnings and outlook for the maker of semiconductor-manufacturing equipment topped Wall Street...
Sumber: MarketWatch - 🏆 3. / 97 Baca lebih lajut »

Wall Street's official stock market outlook — The latest CNBC Market Strategist SurveyWhere do the sharpest minds on Wall Street believe the market is headed? The CNBC PRO exclusive Market Strategist Survey is a roundup of year-end targets for the S&P 500.
Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »