Premarket: World stocks snap winning streak as Meta’s disappointing forecasts hammer tech

World stocks snapped a three-day winning streak on Thursday as disappointing forecasts from Facebook and Instagram parent Meta hammered tech, while the yen’s drop through 155 per dollar for the first time since 1990 kept FX traders on intervention alert.

. Recent hotter-than-expected inflation reports have pushed back and reduced expectations for Federal Reserve interest rate cuts, with markets now pricing in roughly a 70% chance of a first reduction in September. They are not even fully convinced there will now be another one this year, having expected around six cuts at the start of the year.

On Thursday, the yen was fetching 155.65 per dollar after touching 155.675, its weakest in 34 years, during the Asian session. It is also past the 155 yen level that some traders had marked as the latest line in the sand for Japan to act.

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.

Stock market today: Wall Street edges lower in premarket after mixed earnings from big banksHONG KONG — Wall Street veered into negative territory early Friday after several big banks issued mixed first-quarter earnings reports and trimmed guidance ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Premarket: Stocks rise ahead of Big Tech earningsGold is heading for a week-on-week drop of 3.2 per cent, while oil has backed off last week’s high
Source: globebusiness - 🏆 31. / 66 Read more »

Premarket: Global stocks gain as U.S. dollar eases, oil prices fallRisk-off pullback earlier in the week showed signs of easing on Thursday
Source: globebusiness - 🏆 31. / 66 Read more »