The rebound in the Wall Street market stalled as investors lost interest in the movement during the morning trading session as concerns over inflation and rising interest rates resurfaced.
Markets are back in turmoil with concerns about the Federal Reserve (Fed) accelerating interest rate hikes this year further worsening the situation as investor sentiment becomes erratic awaiting a policy meeting by the US Central Bank next week.
The Dow Jones Industrial average index fell 0.89%, the S&P 500 lost 1.1%and the Nasdaq Composite was down 1.3%.
US stocks that turned red late in the trading session caused the MSCI worldwide index to fall 0.32% while the pan-European FTSEurofirst broad index rose 0.51%.
US 2 -year treasury yields rose 1.2 basis points at 1.037% while 10 -year treasury yields fell 1.2 basis points at 1.815%.
Meanwhile, China's CSI 300 blue -chip index rose 0.9% on the back of property developers despite pressure from China's great wall government in easing fund pressure in the affected sectors.
The dollar index, which measures a total of 6 other currencies, rose 0.197% at 95.797 while the Japanese Yen fell 0.17% at US $ 114.1200 and the Euro was down 0.27% at US $ 1.1310.
Meanwhile, crude oil prices rebounded but remained below ground with Brent crude falling 6 sen at US $ 88.38 a barrel and US crude futures down 6 sen at US $ 86.90 a barrel.
Tensions between Russia and Ukraine as well as inflation concerns have pushed gold and silver to new 2 -month highs with US gold futures remaining at US $ 1,842.60 an ounce while silver prices rose 2.1% to US $ 24.63 an ounce.
