Stock market today: Asia follows Wall Street lower after Fed's notes dent hopes of rate hikes ending

The Shanghai Composite Index held steady at 3,150.29 while the Nikkei 225 in Tokyo retreated 0.4% to 31,652.76 after being down more than 1%. The Hang Seng in Hong Kong was off 0.1% at 18,308.06, recovering from a loss of more than 2% in early trading.India’s Sensex opened down 0.3% at 65,324.26. Bangkok gained while New Zealand and other Southeast Asian markets retreated.The Dow Jones Industrial Average lost 0.5%, to 34,765.74. The Nasdaq composite dropped 1.1% to 13,474.63.

Yields widened further following the release of Fed notes increased expectations of another possible rate hike. When safer bonds are paying higher returns, investors often feel less incentive to buy stocks, whose prices are more volatile. Wall Street has retrenched this month on such concerns and expectations interest rates might stay high for longer than expected.

The yield on the 10-year Treasury rose to 4.26% from 4.22% late Tuesday. It is once again close to where it was when the 2007-09 Great Recession sent interest rates crashing. The 10-year yield helps set rates for mortgages and other important loans.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Wall Street drops as faltering Chinese economy sets off global slideA sharp drop for Wall Street capped a day of declines worldwide after discouraging data on China raised worries about the global economy.
Source: AP - 🏆 728. / 51 Read more »

Asia markets fall as bank stocks retreat under pressure on Wall StreetChina will see a fresh batch of economic data on Wednesday, its July house prices.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »

Stock market today: Asia shares decline as faltering Chinese economy sets off global slideAsian shares have declined amid worries over discouraging data on China, as well as over the future of the U.S. economy.
Source: wjxt4 - 🏆 246. / 63 Read more »

Stock market today: Asia shares decline as faltering Chinese economy sets off global slideAsian shares have declined amid worries over discouraging data on China, as well as over the future of the U.S. economy.
Source: AP - 🏆 728. / 51 Read more »

Stock market today: Asia shares decline as faltering Chinese economy sets off global slideAsian shares have declined amid worries over discouraging data on China, as well as over the future of the U.S. economy.
Source: ksatnews - 🏆 442. / 53 Read more »

Market relief in Wall Street amid China’s jitters: Russell 2000, Straits Times Index, AUD/USDWall Street managed to start the week higher, tapping on some recovery in big tech and semiconductors to override earlier jitters around China’s property and financial sector risks.
Source: DailyFX - 🏆 305. / 63 Read more »