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Markets Fall As Fed Fears Flare Up Again

stock oct21 28sep22 lt

World markets remained panic stricken amidst a fresh wave of Fed fears. Worries of another 75-basis points rate hike by the Fed it its next review in November lifted the Dollar, pushing the Dollar Index to a fresh twenty-year high of 114.76.

Asian stocks finished with deep losses. European stocks also witnessed major sell-off in the backdrop of the Gfk Consumer Climate Indicator from Germany plunging to a record low. Consumer Confidence in France too edged lower. Wall Street Futures too indicate losses on opening.

The Dollar's surge dragged down currencies and commodities. Bond yields hardened in tandem with expectations of a surge in interest rates. Crude oil prices traded lower despite supply concerns. The surging Dollar dragged down prices of the yellow metal. Cryptocurrencies plunged.

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

Stock Indexes:

DJIA (US30) at 28,947.50, down 0.64%
S&P 500 (US500) at 3,618.30, down 0.79%
Germany's DAX at 11,970.05, down 1.40%
U.K.'s FTSE 100 at 6,885.20, down 1.42%
France's CAC 40 at 5,692.93, down 1.06%
Euro Stoxx 50 at 3,285.15, down 1.31%
Japan's Nikkei 225 at 26,173.98, down 1.50%
Australia's S&P ASX 200 at 6,462.00, down 0.53%
China's Shanghai Composite at 3,045.07, down 1.58%
Hong Kong's Hang Seng at 17,250.88, down 3.41%

Currencies:

EURUSD at 0.9553, down 0.41%
GBPUSD at 1.0694, down 0.35%
USDJPY at 144.72, down 0.03%
AUDUSD at 0.6385, down 0.75%
USDCAD at 1.3792, up 0.51%
Dollar Index at 114.62, up 0.45%

Ten-Year Govt Bond Yields:

U.S. at 3.994%, up 0.79%
Germany at 2.29%, up 1.73%
France at 2.883%, up 0.84%
U.K. at 4.5410%, up 0.82%
Japan at 0.245%, down 2%

Commodities:

Crude Oil WTI Futures (Nov) at $78.24, down 0.33%
Brent Oil Futures (Dec) at $84.61, down 0.31%
Gold Futures (Dec) at $1,626.55, down 0.59%

Cryptocurrencies:

Bitcoin at $18,752.60, down 7.13%
Ethereum at $1,282.25, down 7.29%
BNB at $269.88, down 5.30%
XRP at $0.4235, down 11.68%
Cardano at $0.4292, down 6.16%

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