Gold prices steadied on Wednesday with concerns over high inflation offsetting expectations of an aggressive interest rate hike by the US Federal Reserve
High-growth stocks, whose valuations stand to be pressured by higher bond yields, bore the brunt as the benchmark 10-year yield hit a three-year high
The materials index, which includes miners and chemical companies, dipped 0.4%; the spread between US 2-year and 10-year Treasury yields moved another step closer to inversion
S&P 500, Nasdaq eye second straight weekly gain; financial, energy among top S&P 500 weekly sectoral gainers
FedEx falls on lower-than-expected quarterly earnings; Moderna up on seeking FDA authorisation for second booster
The Bank of England was expected to raise its key interest rate Thursday for the third time since December as it pushes ahead faster than other central banks in combating a global wave of inflation
Meta shares drop as Russia opens criminal probe; all three major indexes tracking weekly losses
Reflecting a defensive mood on Wall Street, the S&P 500 utilities index rallied 1.9% and real estate added 1.1%
The Nasdaq Composite dropped 1.65% to 13,525.13
The S&P 500 fell 44.39 points, or 1.01%, to 4,340.26, the Nasdaq Composite slipped 81.87 points, or 0.60%, to 13,612.75
The Dow Jones Industrial Average fell 282.93 points, or 0.85%, to 32,848.83
Dow set to confirm correction territory; oil stocks jump as crude tops $100/barrel
S&P 500 stock futures rose 0.5%. Nasdaq futures gained 0.3%, having been down more than 1%. U.S. markets are on holiday on Monday, but futures still traded
The formation occurred in June 2000 when the dot-com bubble burst and again in January 2008 ahead of the global financial crisis
S&P 500 was down 55.33 points, or 1.24%, at 4,419.68, and the Nasdaq Composite was down 177.35 points, or 1.26%, at 13,946.75
Woodside Petroleum surged 4.1% as the oil and gas explorer said its annual profit more than tripled
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ReNew Energy Global (ReNew), the listed parent of Indian renewable energy company ReNew Power, has announced a share buyback worth $250 million just six months after getting listed on the Nasdaq index
The nervousness in the IT stocks, analysts believe, is on account of rising employee costs at a time the business growth has been modest year-on-year in the December 2021 quarter (Q3FY22)
A pan-European equity index opened more than 1% higher, U.S. stock futures rallied and Japan's blue-chip Nikkei rose 0.3%, buoyed by Wall Street's overnight gains