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Global Stock Market Meltdown Amidst Massive Central Bank Tightening

By Avila Sebastian   ✉   | Published:   | Follow Us On Google News
rttnewslogo20mar2024

World stock markets slumped in response to the massive 75 basis points hike by the Fed on Wednesday and the 50 basis points hike by the Swiss National Bank on Thursday. Bank of England is also expected to raise rates by 25 points on Thursday.

Asian benchmarks finished mostly lower. European equity markets are trading with deep losses. Wall Street Futures are also in significantly negative territory. The Fed's actions pushed the Dollar and the Dollar Index higher. Bond yields mostly increased. Crude Oil prices edged up. Gold also gained. Cryptocurrencies rebounded.

Here is a snapshot of the world markets at this hour across stocks, currencies, bonds, commodities and cryptocurrencies.

Stock Indexes:

DJIA (US30) at 30,079.90, down 1.92%
S&P 500 (US500) at 3,699.90, down 2.38%
Germany's DAX at 13,112.38, down 2.77%
U.K.'s FTSE 100 at 7,097.57, down 2.42%
France's CAC 40 at 5,895.23, down 2.24%
Euro Stoxx 50 at 3,439.95, down 2.61%
Japan's Nikkei 225 at 26,431.20, up 0.40%
Australia's S&P ASX 200 at 6,591.10, down 0.15%
China's Shanghai Composite at 3,285.38, down 0.61%
Hong Kong's Hang Seng at 20,845.43, down 2.17%

Currencies:

EURUSD at 1.0408, down 0.34%
GBPUSD at 1.2105, down 0.60%
USDJPY at 133.05, down 0.58%
AUDUSD at 0.6976, down 0.38%
USDCAD at 1.2937, up 0.36%
Dollar Index at 105.19, up 0.03%

Ten-Year Govt Bond Yields:

U.S. at 3.389%, down 0.18%
Germany at 1.7755%, up 7.93%
France at 2.354%, up 5.99%
U.K. at 2.5175%, up 1.96%
Japan at 0.250%, down 0.60%

Commodities:

Crude Oil WTI Futures (Jul) at $115.62, up 0.27%
Brent Oil Futures (Aug) at $118.80, up 0.24%
Gold Futures (Aug) at $1,834.30, up 0.81%

Cryptocurrencies:

Bitcoin at $21,603.31, up 6.25%
Ethereum at $1,157.60, up 11.45%
BNB at $221.06, up 9.71%
Cardano at $0.498, up 8.54%
XRP at $0.3262, up 7.52%

For comments and feedback contact: editorial@rttnews.com

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