Yields stuck near lows, stocks sag as markets await Powell's policy clues

© Reuters. FILE PHOTO: A woman walks past a man examining an electronic board showing Japan's Nikkei average and stock quotations outside a brokerage, in Tokyo, Japan, March 20, 2023. REUTERS/Androniki Christodoulou/File Photo

Crude oil sank to a three-month low after data showed a steep build in U.S. stockpiles, while worries about the Chinese economy weighed on the outlook for demand. "The markets are repositioning for a moderation in U.S. growth," pushing down long-term yields and the dollar, said Kyle Rodda, a senior markets analyst at Capital.com.

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