Wall Street restarts today in a context of strong sell-offs on the global equity and bond markets. The S&P 500 restarts today from the new low of the year tested on the eve.
At 13.35 Italian time, the futures on the Dow Jones fell by almost 90 points (-0.26%), those on the Nasdaq Composite fell by about 1%, those on the S&P 500 lost 0.55%.
Yesterday, the S&P 500 slipped to an intraday low of 3,623.29 points, below the previous intraday low of 2022 that had been tested in mid-June and approached in the day before yesterday, equal to 3,636.
The list then closed down 0.21% to 3,647.29 points; the Dow Jones Industrial Average reported a decline of 125.82 points (-0.43%), to 29,134.99, eliminating a gain that had been almost 400 points in the previous hours. The Nasdaq Composite, on the other hand, rose by 0.25% to 10,829.50 points.
Fed anxiety continues to exhaust US equities, and is confirmed by the continued hike in US Treasury rates.
In recent hours, the fear of more aggressive monetary tightening by the Fed by Jerome Powell, aimed at bringing the US inflation rate back to the 2% target, has caused 10-year US Treasury rates to jump to the 4% threshold. up to 4.019%, maximum value since 2008, or in 14 years.
However, after yet another flare-up, Treasury yields are turning around, piercing the 4% threshold and falling to 3.939%. Two-year US Treasury rates drop to 4.217%, retracing yesterday’s record of 4.351%, the highest since August 2007.