Asian stocks drop, gold hits 2-month high on Middle East tension

  • 📰 fmtoday
  • ⏱ Reading Time:
  • 51 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 24%
  • Publisher: 72%

United States News News

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

Traders leaned towards risk aversion, revising expectations for a reduced chance of a rate cut.

Oil prices dropped as Opec didn’t back Iran’s call for an embargo on Israel, and the US eased Venezuela sanctions for increased global flow.

The broad sell-off in US Treasuries continued into Asian hours with the yield on 10-year notes touching a fresh 16-year high as investors come to grips with the Federal Reserve’s messaging that interest rates may stay higher for longer. Yields rise when bond prices fall. Investor concerns of geopolitical risks after a widening US chip export ban has cast a shadow over Chinese stocks despite some good news from a flurry of data on Wednesday that underscored an economy that was showing signs of stabilising.Country Garden on Wednesday was due to pay a US$15 million coupon payment on a bond due September 2025, but two bondholders of China’s biggest private property developer told Reuters they were yet to receive it.

US stocks ended sharply lower on Wednesday as elevated Treasury yields weighed, with investors assessing the latest batch of quarterly corporate results and forecasts. Meanwhile, Federal Reserve policymakers are signalling a pause in hiking interest rates for another couple months.

 

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

 /  🏆 5. in US

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