Investors sent global stocks lower on Thursday after the Fed hinted at raising interest rates in late 2023. The announcement saw the dollar index surge as much as 0.3%, to add to its Wednesday’s 0.8% gain.
- S&P 500 and Nasdaq 100 traded lower by 0.4%. Dow Jones Industrial Average shed 0.3%
- 10-year Treasuries were little changed, trading at 1.569%, the same as Wednesday when it advanced the highest in a single day for three months.
- Japan’s Nikkei 225 traded down by 0.9%, but Hong Kong’s Hang Seng and Shanghai Composite gained by 0.4% and 0.2% respectively.
- Euro STOXX 600 fell by 0.4% to shed gains on record closing on Wednesday
- Gold traded lower by 4% at $1,777.80, the highest decline in over 10 months.
The fall in global stocks reflected Fed’s hawkish tone to ease monetary support that has pushed the market to record highs. S&P 500 is up +0.11%, EURO STOXX 600 is down -0.27%, NI225 is down -0.93%, CSI 300 is up +0.42%, DXY is up +0.65%