Pressure From the Bond Market Hits a New Level on Wall Street, and Stocks Slide on Inflation Worries
ASX futures pointed to a 1.1% drop as a strong US economic report lifted Treasury yields and renewed inflation concerns.
- Wall Street indices sank Wednesday as rising 10-year Treasury yields revived inflation concerns, with the S&P 500 sliding 0.7% and the Nasdaq composite dropping 1.1% from its record high.
- Oil prices remained elevated, with Brent oil for November delivery rising 3.5% to $102.78 amid Middle East war concerns, well above the roughly $72 cost before the conflict began.
- The Dow Jones fell 299 points, or 0.6%, in mid-afternoon trade, while broader economic data showed business costs leaping at their fastest rate in four years, intensifying inflation worries.
- Traders now see a 50% probability of Federal Reserve rate hikes at each of its next two meetings, according to CME Group data, as President Donald Trump prepares to host Chinese President Xi Jinping in Washington.
- S&P Global Market Intelligence economist Chris Williamson reports business costs are rising at a four-year high, suggesting companies may pass higher expenses onto customers in coming months.
14 Articles
14 Articles
U.S. stocks slide on worries about inflation
NEW YORK — Pressure from the U.S. bond market hit a new level on Wall Street Wednesday after a surprisingly strong report on the economy raised worries about inflation, while oil prices halted their slide. The squeeze caused U.S. stocks to sink.
Dow Drops 352 Points as Inflation Worries Rise
Pressure from the US bond market hit a new level on Wall Street after a surprising strong report on the economy raised wars about inflation, while oil prices stopped their slide. The squeeze caused US stocks to link Wednesday. The S&P 500 fell 58.61 points, or 0.8%, to...
Sydney Morning Herald
ASX set to slump as bond market pressure rattles Wall Street; Oil prices jump
Pressure from the US bond market hit a new level on Wall Street after a surprisingly strong report on the economy raised worries about inflation, while oil prices halted their slide.
Hamilton Journal-News
Pressure from the bond market hits a new level on Wall Street, and stocks slide on inflation worries
Pressure from the U.S. bond market hit a new level on Wall Street after a surprisingly strong report on the economy raised worries about inflation, while oil prices halted their slide. The squeeze caused U.S. stocks to sink Wednesday, and the S&P 500 slid 0.7%. The Dow Jones Industrial Average dropped 299 points, while the Nasdaq composite fell 1.1% from its all-time high. The yield on the 10-year Treasury jumped to 5.12% and is back to where it…
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