Fed Hawkish – Policy to be “kept significantly tighter” through 2024 than previously expected. Dow Jones dropped 279 points after the announcement. NASDAQ down 1.53%. S&P 500 down 0.94%. Bond yields rose – 10 year bond yield rose 3bp and the two-year bond yield +7.5bp on the night.
Dow Jones down 77 points (0.2%) closing near the low. It was up 259 at best and down 83 at worst. S&P 500 down 0.9% the NASDAQ down 1.5% as interest rate sensitive tech gets hit hardest of all sectors. Intel, Alphabet and Nvidia the biggest losers down 4.5%, 3.1% and 2.9% respectively. ASX to…
The ASX 200 closed down 98 points to 7065 (-1.4%). Falling for a fourth consecutive session and hitting a 10-week low, tracking Wall Street overnight after a hawkish pause from the Fed. All sectors finished in negative territory today in a broad market sell-off with financials and energy stocks the worst performers. Oil prices slid for a third…
All three major US indexes ended lower overnight, with risk-off sentiment weighing ahead of the FOMC meeting. The Dow Jones traded lower all day before finishing down 107 points (-0.31%). Dow, at worst down 313 points. S&P 500 down 0.22%, with most sectors in the red. NASDAQ down 0.23%, pressured by higher bond yields. US…
Canadian inflation spanner. Powell – Surely no surprises. RBA on message. Nothing new. Bond market refusing to give inflation the benefit of the doubt. Some sell signals on Tech ahead of Fed. Travel folding up. “Revenge Travel ends”.
ASX 200 closed down 33 to 7163 (0.5%). Falling for a third consecutive session. The ASX 200 is down 116 points this week, erasing almost all of last week’s gains (122 points +1.71%). All eyes now turn to the Fed tonight. Markets have priced in a 99% likelihood they will hold rates, with hopes Powell’s press conference will provide clues to the interest…
