European markets accelerated declines after the stronger-than-expected U.S. jobs report added to market anxieties underpinned by record German consumer inflation and record wholesale inflation in Italy.
Major averages dropped between 2% and 3% after the latest jobs report highlighted labor market strength, stoking fears of higher rates sooner. Commodities turned lower after the release of jobs data.
Major averages rebounded and snapped a six-day losing streak and bond yield turned lower. Crude oil and natural gas closed higher and gold, silver and copper advanced.
Thor Industries said quarterly sales inched higher driven by price increase. Cal-Maine Foods sales surged on increase in unit sales and higher prices. BlackBerry quarterly sales declined and loss shrank.
U.S. stocks rebound and Treasury yields stabilize but investors fear that the Fed's approach to tackling inflation may not avoid hard landing and a deeper-than-expected recession.
Rising Treasury yields overshadowed stocks as investors adjust to higher interest and anticipate more rate hikes. Crude oil rebounded from a nine-month low. The euro and the British pound failed to rebound and closed lower.
Stocks rebound on Wall Street and the U.S. dollar pauses its advance. Crude oil bounced from its nine-month low but Treasury yields flirted with new 15-year highs.
Stocks ended lower as market sentiment swung between bargain hunting and rate hike worries. The U.S. dollar and Treasury yields advanced to new multi-year highs. Crude oil erased all the gains in 2022 after surging as high as $120 a barrel in early March.
U.S. Treasury yields continued to advance to new 15-year highs and the dollar jumped to a two-decade high against major currencies. The British pound dropped to a new 4-decade low.
Rates are rising and economies are slowing around the world and investors recalibrate earnings outlook and readjust valuations. Energy sector led the losers as crude oil dropped more than 5%.
Major averages on Wall Street extended losses on the fourth day and are set to close down for the second week in a row. Crude oil and natural gas prices eased on recession worries and the U.S. dollar advanced to a new 2-year high.
Stocks fell on the worries that high inflation is still ruling the economy after five rate hikes over six months and more hikes may just dip the economy to a recession without breaking the back of inflation.
Switzerland stepped out of the negative rate regime after inflation jumped to 3-decade high last month. Norway indicated future rates are likely to be moderate. The UK rates are still lagging by a wide margin to consumer price inflation.
Stocks on Wall Street accelerated declines as investors digest the implications of recent large rate hikes and future rate paths. The Fed reiterated its commitment to bring down inflation but six months of monetary tightening is having a minimal impact on inflation.
