Stocks extended a global selloff Wednesday in the wake of a surge in Treasury yields, as the prospect of Federal Reserve monetary tightening to fight high inflation weighs on markets. MSCI Inc.’s Asia-Pacific share index fell for a fifth session, led lower by a 3% slump in Japan. U.S. and European futures slid after the S&P 500 suffered a broad drop and the tech-heavy Nasdaq 100 sank. The benchmark 10-year Treasury yield held a jump to 1.87%. A dollar gauge edged lower. Oil extended a rally -- underscoring global price pressures -- after a pipeline running from Iraq to Turkey was hit by an explosion, taking out crucial supply. In China, where policy is diverging from the U.S., the central bank has pledged to use more monetary policy tools to aid the economy and ease credit stress amid a real-estate slump. Global equities have had a volatile start to the year, hurt by a more hawkish Fed stance, economic disruptions from the omicron virus strain and risks to company profits due to rising costs. Higher bond yields are forcing investors to rethink valuations across a range of assets. The question investors are wrestling with most is if the Federal Reserve will need to tighten monetary policy to guide inflation lower, or if a softening in economic growth will allow the central bank to be less aggressive in tightening. In company developments, Microsoft Corp. retreated after unveiling a $69 billion deal for Activision Blizzard Inc. Goldman Sachs Group Inc.’s worse-than-expected fourth-quarter trading revenue weighed on banks. Elsewhere, Bitcoin retreated, falling below $42,000.
US After Hours CNXC +5% rises while OESX -16% declines on earnings/guidance
Nikkei -2.80% Hang Seng -0.17% CSI -0.65% Shanghai -0.32% Shenzen -0.93%
Eur$ 1.1330 CNH 6.3539 CNY 6.3489 JPY 114.27 GBP 1.3606 CHF 0.9159 RUB 76.9328 TRY 13.5630 WTI$ 86.68 +0.15% Gold 1,813.85 +0.09% BTC 41,860 +0.75% ETH 3,110
S&P -0.65% Nasdaq -0.82% EuroStoxx -0.58% FTSE -0.48% Dax -0.74% SMI -0.38%
Macro :
- QE’s Rapid End-Game Will Keep Driving Yields Higher: Macro View
- U.K.'S JOHNSON TO ANNOUNCE LIFTING OF COVID RULES ON WED.: FT
- Bundesbank Warns Banks of Complacency About Default Risks: FT
Keep an aye on :
- ASML NA : ASML 1Q Net Sales Forecast Misses Estimates
- AUTO NO : AutoStore Says It Will Continue Legal Action Against Ocado
- BRKN SW : Poenina and Burkhalter Agree to Enter Merger Talks
- BRBY LN : Burberry 3Q Retail Comparable Sales Beat Estimates
- EQT SS : EQT Aims to Raise Almost $23 Billion for Buyout Fund -- WSJ
- ERICB SS : Ericsson Seeks to Block U.S. Imports of Apple Phone, Watch (2)
- G IM : Generali Board Rejects Allegations in Ex-Directors’ Letters
- LEO GY : Leoni Says German Cartel Office Conducted Searches at Sites
- LSEG LN : LSE Seeks a Piece of Booming Private Capital Market: ECM Watch
- MMT FP : SWILUX to Sell 6.39 Million Metropole Television Shares: Terms
- MONC IM : Moncler Stolen Data Published on Dark Web After Malware Attack
- PRY IM : Prysmian Says Sites Searched by German Federal Cartel Office
- CFR SW : Richemont 3Q Sales At Constant Exchange Rates Beat Estimates
- SAN FP : Sanofi Announces Second Positive Phase 3 Dupixent Study
- SGRE SM : GE Wins Wind Turbine Fight at U.S. Agency Against Siemens Gamesa
- UCB BB : UCB to Buy Seizure Drugmaker Zogenix for Up to $1.9 Billion
- UCG IM : UniCredit to Reduce Asia-Pacific Presence, Reuters Says
- UCG IM : UniCredit Receives Non-Binding Bids for Leasing Unit: MF
- U US : Unity Shares Are a Buy Amid ‘Metaverse Arms Race,’ Piper Says