Business Maverick: Stocks, US futures drop as Fed outlook hits mood: markets wrap

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 59 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 84%

United States News News

United States United States Latest News,United States United States Headlines

US equity futures and Asian stocks fell on Thursday on economic growth worries amid a hawkish drumbeat from central banks, pushing up the dollar as investors sought a haven from the volatility in global markets.

Tech firms helped send an Asian share index to a six-week low, with China’s bourses among the few to hold steady. S&P 500 and Nasdaq 100 contracts slid, the latter in part on a tumble in chipmaker Nvidia Corporation over a salesThe jitters come after the worst month since June for US shares, reflecting fears of an economic downturn alongside restrictive monetary policy to curb inflation. The two-year Treasury yield touched 3.

Commodity-linked and Group-of-10 currencies weakened as the dollar advanced. The yen fell to a fresh 24-year low, heading closer to the 140 per-dollar level.for returns after an August of losses across key asset classes. A bounce in global shares from June lows is fizzling as the Federal Reserve pushes back against bets on tempered rate hikes. Global bonds, meanwhile, are sliding toward the first bear market in a generation.

The market is getting the message that the US central bank is going to fight inflation at all costs, Frances Stacy, director of strategy at Optimal Capital Advisors, said on Bloomberg Radio. “I don’t think we’ve seen the bottom for this year,” she added.the central bank needs to raise its benchmark rate above 4% by early next year. She said she doesn’t anticipate rate cuts in 2023.

Elsewhere, oil was on the back foot, sliding to about $89 a barrel. Aggressive Fed tightening and China’s slowdown are dimming the demand outlook. Bitcoin weakened, hovering around the closely watched $20,000 level. The latest economic data underlined a parlous outlook for China. A private survey suggested factory activity

 

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

I thought we don't have 'man' and 'woman' police officers anymore.

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:

 /  🏆 3. in US

United States United States Latest News, United States United States Headlines

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

Asian stocks seek footing as investors focus on payrollsInterest rates and health of China’s economy also at forefront of investor concerns You're indeed a great woman,I never expected this from you,i assure you that I will bring more clients to your crypto company because of what you've done in my life,I promise to let the word know about you. Your work speaks volumes of the kind of a woman you are GregoryLillian5
Source: BDliveSA - 🏆 12. / 63 Read more »

Business Maverick: Stocks, US futures drop as Fed outlook hits mood: markets wrapUS equity futures and Asian stocks fell on Thursday on economic growth worries amid a hawkish drumbeat from central banks, pushing up the dollar as investors sought a haven from the volatility in global markets. I thought we don't have 'man' and 'woman' police officers anymore.
Source: dailymaverick - 🏆 3. / 84 Read more »