News Formal

Business Maverick: Stocks, futures sink as dollar jumps with yields: markets wrap

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 84%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Federal Reserve chair Jerome Powell’s signal of higher-for-longer interest rates coursed through markets on Monday, sinking stocks and equity futures and lifting two-year Treasury yields to levels last seen in 2007.

An Asian share index fell more than 2%, the most in over two months. Losses on Nasdaq 100 and European futures were at least 1.5%. China and Hong Kong declines were smaller amid progress on the US-China delisting spat.

Bonds sold off amid a deepening inversion of the US yield curve that underscores expectations of a recession under tightening monetary policy. The US two-year yield, sensitive to expectations around Fed policy, hit 3.45%last week at the Fed’s Jackson Hole symposium flagged the likely need for restrictive monetary policy for some time to curb high inflation and cautioned against loosening monetary conditions prematurely.

 

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:

 /  🏆 3. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Business Maverick: Iran may drain offshore crude oil cache if nuclear deal reachedProgress towards an Iranian nuclear deal has thrown the spotlight onto a sizable cache of crude held by Tehran that could be swiftly dispatched to buyers in the event an agreement gets hammered out. Instead, he focuses on complementing his team and himself while people suffer. MuhammadQasimDreams I wish everyone can be like you, lisa , I haven't lost since you have been managing my trading account, I love you so much LisaMarkdona2
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Default jitters stalk Egypt, sending traders on a wild rideAn already turbulent year for emerging-market traders is getting another shot of adrenaline as Egypt fights to avert a debt crisis.
Source: dailymaverick - 🏆 3. / 84 Read more »

Business Maverick: Bitcoin back down below $20,000 on post-Jackson Hole cautionThe largest token extended its drop below $20,000 on Monday as part of a wider cryptocurrency-market retreat, amid concern about the Federal Reserve’s rate-hike path.
Source: dailymaverick - 🏆 3. / 84 Read more »

Stocks keep sliding as dollar hits two-decade high on rates fearsFed chair Jerome Powell's promise of policy “pain” to contain inflation quashes hopes of the central bank rescuing markets
Source: BDliveSA - 🏆 12. / 63 Read more »