Fed Fears Roil Market Sentiment

Renewed fears of monetary tightening by the Fed played spoilsport with market sentiment amidst Chair Jerome Powell’s comments about high inflation and further monetary tightening. Comments by ECB officials too downplayed expectations of interest rate cuts, dampening market sentiment.

Wall Street Futures are trading directionless. European benchmarks recorded deep losses. Asian stocks slipped amidst renewed Fed fears.

Dollar Index traded close to the flatline. Bond yields moved in a mixed pattern. Rising geopolitical worries lifted crude oil prices. Gold futures traded lower amidst hawkish commentary by Fed officials. Cryptocurrencies gained amidst hopes of an Ethereum Spot ETF product.

Here is a glimpse of the major world markets at this hour.

Stock Indexes:

DJIA (US30) at 33,911.10, up 0.06%
S&P 500 (US500) at 4,346.30, down 0.02%
Germany’s DAX at 15,252.55, down 0.65%
U.K.’s FTSE 100 at 7,380.00, down 1.01%
France’s CAC 40 at 7,048.78, down 0.91%
Euro Stoxx 50 at 4,198.65, down 0.72%
Japan’s Nikkei 225 at 32,568.11, down 0.16%
Australia’s S&P ASX 200 at 6,976.50, down 0.55%
China’s Shanghai Composite at 3,038.97, down 0.47%
Hong Kong’s Hang Seng at 17,190.00, down 1.87%

Currencies:

EUR/USD at 1.0675, up 0.08%
GBP/USD at 1.2220, down 0.01%
USD/JPY at 151.43, up 0.06%
AUD/USD at 0.6361, down 0.06%
USD/CAD at 1.3809, up 0.02%
Dollar Index at 105.89, down 0.02%

Ten-Year Govt Bond Yields:

U.S. at 4.626%, down 0.15%
Germany at 2.7185%, up 2.43%
France at 3.307%, up 2.10%
U.K. at 4.3750%, up 2.34%
Japan at 0.851%, down 0.70%

Commodities:

Brent Oil Futures (Jan) at $80.47, up 0.57%.
Crude Oil WTI Futures (Dec) at $76.12, up 0.50%.
Gold Futures (Dec) at $1,958.95, down 0.55%.

Cryptocurrencies:

Bitcoin at $36,517.57, down 0.47%
Ethereum at $2,097.93, up 9.45%
BNB at $252.48, up 0.72%
XRP at $0.6527, down 6.65%
Solana (SOL) at $47.23, up 5.07%.

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