News Formal

Stock market today: Asian shares are sharply lower, tracking a rates-driven tumble on Wall Street

  • 📰 AP
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 51%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

Asian markets are trading sharply lower after Wall Street tumbled as it focused on the downside of a surprisingly strong job market: the likelihood that interest rates will stay high.

Stock market today: Wall Street wraps its miserable September with another weak finish

Stocks fell after a report showed U.S. employers have many more job openings than expected. Expectations that interest rates will stay high are pressuring stocks as Treasury yields rise in the bond market. The 10-year Treasury yield climbed Tuesday to 4.79% from 4.69% late Monday and from just 0.50% early in the pandemic. It touched its highest level since 2007.

Investors increasingly are taking the Federal Reserve at its word that it will keep its main interest rate high for a long time in order to drive down inflation.its federal funds rate to the highest level since 2001, and it indicated last month it may keep the rate higher in 2024 than it earlier expected.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 728. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

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

Stock market today: Asian shares are sharply lower, tracking a rates-driven tumble on Wall StreetAsian markets are trading sharply lower after Wall Street tumbled as it focused on the...
Source: SFGate - 🏆 534. / 51 Read more »

Stock market today: World markets mixed as bond selling pressures Wall StreetWorld shares are mixed after Wall Street simmered under pressure from rising bond yields. U.S. futures and oil prices edged higher.
Source: AP - 🏆 728. / 51 Read more »

Stock market today: Asian shares mixed as Japan business confidence rises and US shutdown is avertedAsian shares are mostly higher in thin trading with many markets closed for holidays. Japan's Nikkei 225 index advanced after a central bank survey showed business confidence on the rise.
Source: AP - 🏆 728. / 51 Read more »

Stock market today: Asian shares mixed as Japan business confidence rises and US shutdown is avertedAsian shares are mostly higher in thin trading with many markets closed for holidays.
Source: wjxt4 - 🏆 246. / 63 Read more »

Stock market today: Asian shares mixed as Japan business confidence rises and US shutdown is avertedAsian shares are mostly higher in thin trading with many markets closed for holidays.
Source: ksatnews - 🏆 442. / 53 Read more »