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.
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.
