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Global stocks fall, US yields rise on higher interest rate outlook

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On Wall Street, all three major indexes end lower on Tuesday, February 21, led by sell-offs in technology, consumer discretionary, industrials, and financial stocks.

A survey released on Tuesday showed that US business activity unexpectedly rebounded in February, reaching its highest level in eight months, and reaffirming the resilience of the US economy despite the Fed’s monetary policy actions.

The MSCI world equity index, which tracks shares in 50 countries, was down 1.59%. European stocks fell as much as 1% before clawing back some of their losses, and closed down 0.19%. Oil prices slipped in a volatile session as persistent concerns about global economic growth outweighed supply curbs and prompted investors to take profit on the previous day’s gains.

 

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