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Stock market update: global stocks down

Stock market update: global stocks down

Against the backdrop of a resurgence of Covid-19 cases, global stock markets started the week in the red. In the United States, Treasury yields have reached a new two-year high.


This Monday, stock markets open slightly lower, after a complicated first week of 2022. Investors remain wary of the threat of rising interest rates and a surge in Covid-19 infections.


Meanwhile, the U.S. Treasury is breaking a new two-year record. Last week, the U.S. Federal Reserve announced a tighter policy to combat inflation. The data showing a dynamic labor market in the United States had stimulated the markets during the holiday season.


By 9:00 am, European indices were down, with the German DAX losing 0.48%, the Euro STOXX was down 0.26% and the British FTSE 100 (.FTSE) was down 0.1%.


In Asia, the MSCI index, which includes the majority of stocks in the Asia-Pacific region excluding Japan (.MIAPJ0000PUS) rose 0.6%. Benefiting from very low interest rates that have allowed for strong growth in recent years, technology stocks were the first victims of this global downturn.


These numbers follow those of Wall Street as the S&P 500 Index is off to its worst start since 2016. Investors are keeping a close eye on U.S. inflation data, which is due out this week. In particular, they are concerned that core inflation will hit its highest level in decades at 5.4%


Yields on 10-year U.S. Treasuries hit 1.80% in early trading, a score last seen in early 2020. The dollar edged up to 95.878, while the euro traded at $1.1337, down 0.2%.


See Also

In commodities, gold was at $1,796 an ounce. After the tense situation in Kazakhstan and the breakdowns in Libya‘s producing oil fields, oil is stabilizing after climbing 5% last week. Thus, Brent crude oil settled at $81.79 a barrel, and U.S. crude oil rose to $78.93.





Featured photo : © Press

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