Like SeeSaw, the Global Market Returns to Negative Area

thecekodok

 Global stock markets saw all major Wall Street stock indices close lower in a less turbulent trading session while oil prices soared 2% as the geopolitical crisis and the Federal Reserve (Fed) meeting on Wednesday continued to be the main focus of investors.


The Dow Jones Avarage average index fell 0.19%, the S&P 500 lost 1.22%and the Nasdaq Composite was down 2.28%.


The decline marked a loss for 3 consecutive weeks as S&P continued in correctional territory. For the record, if the bellwether index closes 10% or less below the record high reached on January 3 at 9.2%, it will enter corrective territory.


The MSCI global equities index, which tracks a total of 45 stocks from other countries, was down 0.99%, which also saw its biggest decline since the Covid-19 pandemic struck.


Meanwhile, investors ’focus continues to be on the Fed meeting which will update its policy plan as well as it is expected to release the expected timeline of its rate hike and balance sheet depreciation plan.



That string, the bond market saw the 10 -year yield of the United States (US) up 5 basis points at 1.7814%.


In addition, the tension of the Russia-Ukraine crisis has also affected investor sentiment and caused concerns over the possibility of limited oil supply has further boosted the commodity by 2%.


As a result, Brent oil futures rose $ 1.93 or 2.2% at $ 88.20 a barrel while US West Texas Intermediate (WTI) crude oil prices added $ 2.29 or 2.8% at $ 85.60 a barrel.


As a result, safe-haven assets such as the dollar and gold continued to rise as investors began to move towards safe-haven investments.


The dollar index, which measures a total of 6 other currencies, rose 0.06%.


The spot price of gold increased 0.25% at $ 1,847.61 per ounce.

Tags