Auto stocks led losses after BYD said it would offer discounts on some models, intensifying competition in the industry. jobless claims, which remained historically low, signaling that the Fed could push rates higher than previously expected. AsiaĬhinese shares closed lower as investors digested U.S. The Wall Street Journal Dollar Index, which tracks the US dollar against 16 other currencies, was lower at 97.81. The Australian dollar hinted down to 65.81 US cents after previously closing at 65.88. Meanwhile, in the US, the yield on 2 Year Treasury notes inched higher to 4.58% and the yield on 10 Year notes edged lower to 3.69% In commodity markets, Brent crude oil added 1.2% to $US82.60 a barrel while gold gained 2% to US$1,867.47.Īustralian government bonds declined, with the 2 Year yield falling to 3.36% and the 10 Year dipping to 3.58%. Still, wage growth was below expectations, and the unemployment rate ticked slightly higher to 3.6%. Meanwhile, the government said Friday that US hiring grew solidly but cooled some in February as employers added 311,000 jobs, more than economists surveyed by The Wall Street Journal had expected. Silicon Valley Bank collapsed after a run on deposits doomed the tech-focused lender's plans to raise fresh capital. Investor sentiment has broadly soured in recent days, with the S&P 500 down nearly 5% on the week. The S&P 500 declined 1.5% while the blue-chip Dow Jones Industrial Average fell 1.1%. The selloff deepened after regulators shut down Silicon Valley Bank, marking the largest bank failure in the US since 2008. Stocks tumbled Friday, as investors ran for safe havens, unnerved by concerns about the health of the US financial system and a still-strong jobs report. February jobs data revealed a stronger-than-expected US labor market.ĪSX futures had lost 44 points or 0.6% as of 8:00am on Saturday, suggesting a decline at the open. Financial shares tumbled after the collapse of Silicon Valley Bank. The Australian sharemarket is set to fall today following losses across the globe on Friday.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |