Asian markets tracked lower U.S. market indexes and extended weekly losses. Market indexes in Shanghai and Hong Kong bucked the regional trend and rebounded after investors searched for bargains. The Bank of Japan left its loose monetary policy intact and the yen weakened.
Popular market indexes on Wall Street deepened weekly losses after interest rate worries gripped market sentiment for the third day in the week. Elevated crude oil prices compounded market jitters.
Popular market averages extended weekly losses and Treasury yields advanced to highs since 2007 after weekly jobless claims suggested strong labor market conditions.
Market indexes fell sharply after investors digested Fed's decision to hold rates and economic projections indicating rates are likely to stay higher-for-longer.
The yield on the U.S. Treasury bonds edged higher ahead of the rate decision on Wednesday. Crude oil jumped to a one-year high and housing starts dropped to the lows seen in 2020.
Market averages turned lower ahead of the Fed action on Wednesday. Crude oil jumped to a one-year high and the housing starts dropped to the lowest level since June 2020.
U.S. Treasury yields advanced ahead of the Fed's rate decision on Wednesday and higher crude oil prices stoked fears of a rebound in inflation. Bond yields advanced in the Euro Area on hawkish statements from policymakers.
Market indexes on Wall Street lacked direction after crude oil jumped to a new ten-month high and short term Treasury yields advanced ahead of the interest rate decision on Wednesday.
Market indexes traded down on Friday but are set to close higher following the decline in the previous week. Automakers were in focus after workers decided to strike at three key assembly plants in Ohio and Michigan. Energy stocks advanced after crude oil jumped for the third week in a row.
UK chip design company Arm raised nearly $5 billion in an initial public offering indicating healthy interest from investors. Market indexes advanced after retail sales showed resilient consumer spending.
Popular averages advanced after falling for three days in a row. Retail sales unadjusted for price advanced indicating resilient consumer spending. Wholesale inflation accelerated in August.
The European Central Bank lifted its main refinancing rate to a 22-year high and deposit rate to a record high and said inflation is expected to remain too high for too long.
Investors shook off overall inflation acceleration in August and the familiar list of mega tech stocks advanced. Crude oil jumped to a new 10-month high and elevated mortgage rate kept housing transactions subdued.
Market indexes lacked direction after overall inflation accelerated in August and core inflation edged lower from a year ago. Crude oil prices continued to advance on supply worries and fueled expectations of higher inflation in September.
