Stocks resumed their slide as the yield on U.S. Treasury advanced to 16-year highs after jobless report showed persistent tight labor market conditions.
Market indexes turned lower after the U.S. Treasury yields jumped to the levels last seen in 2007 and crude oil traded at this year's high, stoking fears of a rebound in inflation.
Stocks attempted a rebound, Treasury yields edged lower and the dollar index inched higher as investors debated interest rate trajectory and the Federal Reserve's next move.
Investors shied away from stocks and U.S. Treasury yields advanced after new home sales fell at the fastest pace in eleven months in August. The potential federal government shutdown is also adding to market jitters.
Benchmark indexes accelerated decline and extended losses of the previous week. Rising bond yields and elevated energy prices kept investors on backfoot.
U.S. Treasury yields jumped to 16-year highs and expectations of rising yields as investors shun high growth stocks. Bond yields advanced in Europe and the euro dropped to a six-week low.
Stocks lacked direction in Monday's trading after investors debated interest rate path and searched for tech bargains. The three-month crude oil price rally added to market jitters on the worries of a rebound in inflation.
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.
