News Formal

Stock market today: Asian shares are mixed, taking hot US inflation data in stride

  • 📰 AP
  • ⏱ Reading Time:
  • 42 sec. here
  • 17 min. at publisher
  • 📊 Quality Score:
  • News: 72%
  • Publisher: 51%

Inflation News

South Korea Government,Financial Markets,Federal Reserve System

Asian shares are mixed after U.S. stocks fell on worries that what seemed like a blip in the battle to bring down inflation is turning into a troubling trend. South Korean shares were little changed after the ruling conservative party suffered a crushing defeat in a parliamentary election. Oil prices edged higher and U.S. futures were flat.

A photographer takes photos of an electronic board showing Japan’s yen and U.S. dollar exchange rate at a securities firm Thursday, April 11, 2024, in Tokyo. A person walks past an electronic stock board showing Japan’s stock prices at a securities firm Thursday, April 11, 2024, in Tokyo. People walk past an electronic stock board showing Japan’s stock prices at a securities firm Thursday, April 11, 2024, in Tokyo.

On Wednesday, the S&P 500 dropped 0.9% to 5,160.64. The Dow Jones Industrial Average dropped 1.1% to 38,461.51, and the Nasdaq composite fell 0.8% to 16,170.36. The yield on the 10-year Treasury jumped to 4.54% from 4.36% late Tuesday and is back to where it was in November. The two-year yield, which moves more on expectations for Fed action, shot even higher and rose to 4.97% from 4.74%.High interest rates work to undercut inflation by slowing the economy and hurting investment prices. The fear is that rates left too high for too long can cause a recession.

Real-estate stocks in the S&P 500 fell 4.1% for the biggest loss by far among the 11 sectors that make up the index. That included a 6.1% drop for office owner Boston Properties and a 5.3% tumble for Alexandria Real Estate Equities.

 

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:

 /  🏆 728. 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.

Stock market today: Asian shares trading mixed after Wall Street’s momentum coolsAsian shares were mixed in muted trading, as buying in some markets was soon erased by profit-taking. Japan’s benchmark Nikkei 225 finished little changed Tuesday. Shares fell in Sydney, but rose in South Korea and China. Wall Street edged back further from its record heights reached last week. The S&P 500 slipped 0.
Source: AP - 🏆 728. / 51 Read more »

Stock market today: Asian shares trade mixed after Wall Street closes near record finishAsian shares are trading mixed as investors await further indications of future U.S. interest rate cuts. Chinese markets rose while shares fell in Tokyo and Seoul Monday. The Chinese yuan dipped to its lowest level in four months. Oil prices advanced and U.S. futures were lower.
Source: AP - 🏆 728. / 51 Read more »

Stock market today: Asian shares trade mixed after Wall Street closes near record finishAsian shares are trading mixed as investors await further indications of future U.S. interest rate cuts.
Source: wjxt4 - 🏆 246. / 63 Read more »

Stock market today: Asian shares trade mixed after Wall Street closes near record finishAsian shares are trading mixed as investors await further indications of future U.S. interest rate cuts. Chinese markets rose while shares fell in Tokyo and Seoul. The Chinese yuan dipped to its lowest level in four months. Oil prices advanced and U.S. futures were lower.
Source: AP - 🏆 728. / 51 Read more »

Stock market today: Asian shares trade mixed after Wall Street closes near record finishAsian shares are trading mixed as investors await further indications of future U.S. interest rate cuts.
Source: ksatnews - 🏆 442. / 53 Read more »