US stocks fall as bond yields rise
EUR/USD 🔽
GBP/USD 🔽
AUD/USD 🔼
USD/CAD 🔼
USD/JPY 🔼
XAU 🔽
WTI 🔽
Market sentiment remained subdued amidst high infection rates in China, as well as growing tensions between Serbia and Kosovo. The US 10-year Treasury bond yield then rose to a month-high of 3.885%, sending the stock market to close lower.
All three major indices dropped yesterday. There was a 365-point drop in the Dow Jones Industrial Average to 32,875, a 46-point drop in the S&P 500 to 3,783, and a 143-point slide in the Nasdaq 100 to 10,679.
Meanwhile, the greenback has strengthened against major currencies. USD/CAD added over 80 pips to 1.3608, and USD/JPY climbed to a week high of 134.49, before closing at 134.47. EUR/USD lost 30 pips to 1.0608, while GBP/USD and AUD/USD suffered minor losses at 1.2013 and 0.6736 respectively.
As a retaliation, Russia plans to impose an oil ban on those who follow the G7 price cap. However, lower demand expectations saw WTI oil futures trading lower at $78.96 a barrel. Spot gold retreated to $1,804.35 an ounce, as Bitcoin declined from $16,754.0 to $16,568.0.
GBP/USD 🔽
AUD/USD 🔼
USD/CAD 🔼
USD/JPY 🔼
XAU 🔽
WTI 🔽
Market sentiment remained subdued amidst high infection rates in China, as well as growing tensions between Serbia and Kosovo. The US 10-year Treasury bond yield then rose to a month-high of 3.885%, sending the stock market to close lower.
All three major indices dropped yesterday. There was a 365-point drop in the Dow Jones Industrial Average to 32,875, a 46-point drop in the S&P 500 to 3,783, and a 143-point slide in the Nasdaq 100 to 10,679.
Meanwhile, the greenback has strengthened against major currencies. USD/CAD added over 80 pips to 1.3608, and USD/JPY climbed to a week high of 134.49, before closing at 134.47. EUR/USD lost 30 pips to 1.0608, while GBP/USD and AUD/USD suffered minor losses at 1.2013 and 0.6736 respectively.
As a retaliation, Russia plans to impose an oil ban on those who follow the G7 price cap. However, lower demand expectations saw WTI oil futures trading lower at $78.96 a barrel. Spot gold retreated to $1,804.35 an ounce, as Bitcoin declined from $16,754.0 to $16,568.0.
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