World markets today: US and European stock markets declined on Thursday on worries over rising US treasury yields and the Israel-Hamas war potentially growing into a wider conflict in the Middle East.
Federal Reserve chairman Jerome Powell’s comments over interest rate hike also increased risk aversion among traders.
The MSCI’s gauge of stocks across the globe shed 0.89%. Emerging market stocks lost 1.23%.
Wall Street
US stock indices fell after Powell’s speech.
The S&P 500 lost 37.02 points, or 0.86%, to end at 4,277.58 points. The Nasdaq Composite lost 128.61 points, or 0.97%, at 13,185.69. The Dow Jones Industrial Average fell 254.24 points, or 0.76%, at 33,410.84.
The 10-year US treasury yields reached a 16-year high after Jerome Powell said that additional rate hikes could be warranted in view of economic resiliency and labor market tightness.
The yield on the 10-year treasury touched 4.99% before paring its gain.
Currencies
The US dollar fell at 149.87 Japanese yen from 149.90. The euro rose at $1.0581 from $1.0536.
Europe
European shares slid on Thursday on a raft of downbeat corporate earnings.
The pan-European STOXX 600 fell 1.2% hitting a two-week low.
Technology sector, up 0.5%, was the only gainer among sectors.
Britain’s FTSE 100 dropped 1.2% at 7,499.53. Germany’s DAX lost 0.3% at 15,045.23. France’s CAC 40 fell 0.6% at 6,921.37.
Energy prices
The US crude oil benchmark for November delivery added $1.05 at $89.37 a barrel on Thursday. Brent crude for December delivery rose 88 cents at $92.38 a barrel.
Natural gas for November delivery fell 10 cents at $2.96 per 1,000 cubic feet.
Bullion
Gold for December delivery gained $12.20 at $1,980.50 an ounce. Silver for December delivery fell 7 cents at $23.103 an ounce.
Asia
In Asian stock markets, Hong Kong’s Hang Seng index shed 2.5% at 17,295.89. China’s Shanghai Composite lost 1.7% at 3,005.39.
The MSCI’s broadest index of Asia-Pacific shares outside Japan closed 1.48% lower.
Japan’s Nikkei 225 edged down 1.9% at 31,430.62.
Australia’s S&P/ASX 200 index ended 1.4% lower at 6981.600. New Zealand’s benchmark S&P/NZX 50 index closed 0.8% lower at 11135.5800.
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Updated: 20 Oct 2023, 01:54 AM IST