A higher-than-expected 50-basis points rate hike by the Bank of England and the Fed Chair Jerome Powell's hawkish congressional testimony dampened market sentiment across asset classes.
European benchmarks are trading vastly lower amidst a slump in PMI readings. Wall Street Futures are trading in negative zone. Asian stocks too finished deep in the red.
Dollar Index jumped amidst safe haven demand for the Dollar. Bond yields eased across regions. Renewed rate hike fears triggered recession concerns, dragging down crude oil prices. Gold rebounded whereas cryptocurrencies declined.
Here is a snapshot of the world markets at this hour across stocks, currencies, bonds, commodities and cryptocurrencies.
Stock Indexes:
DJIA (US30) at 33,829.20, down 0.35% S&P 500 (US500) at 4,358.80, down 0.53% Germany's DAX at 15,870.25, down 0.74% U.K.'s FTSE 100 at 7,484.21, down 0.24% France's CAC 40 at 7,182.98, down 0.28%Euro Stoxx 50 at 4,284.55, down 0.46%Japan's Nikkei 225 at 32,781.54, down 1.45% Australia's S&P ASX 200 at 7,099.20, down 1.34% China's Shanghai Composite at 3,197.90, down 1.31% (June 21)Hong Kong's Hang Seng at 18,889.97, down 1.71%
Currencies:
EUR/USD at 1.0853, down 0.96%GBP/USD at 1.2713, down 0.28%USD/JPY at 143.12, down 0.00%AUD/USD at 0.6693, down 0.93%USD/CAD at 1.3206, up 0.41%Dollar Index at 103.12, up 0.72%
Ten-Year Govt Bond Yields:
U.S. at 3.748%, down 1.34% Germany at 2.3750%, down 4.47%France at 2.904%, down 3.86%U.K. at 4.3095%, down 1.32%Japan at 0.366%, down 0.14%
Commodities:
Brent Oil Futures (Aug) at $73.03, down 1.50%Crude Oil WTI Futures (Aug) at $68.31, down 1.73%Gold Futures (Aug) at $1,927.45, up 0.19%
Cryptocurrencies:
Bitcoin at $30,008.32, down 0.42%Ethereum at $1,884.34, down 1.34%BNB at $243.47, down 3.63% XRP at $0.4938, down 3.12%Cardano (ADA) at $0.2944, down 2.60%
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.