Wall St turns higher, gold climbs, oil dips amid economic, geopolitical crosswinds

The German share price index DAX graph is pictured as stocks slid following the shares of Credit Suisse hit a record low in a rout of European bank stocks, as investor concerns about sector stresses triggered by Silicon Valley Bank’s implosion deepened, at the stock exchange in Frankfurt, Germany, March 15, 2023. REUTERS/Staff/ File photo

"The longer rates stay this high, the more volatility you'll see in the market, and the higher the chances are of something else breaking whether it's consumer confidence, or business sentiment and it becomes sort of a self-fulfilling prophecy," Nick said. European stocks oscillated, but were last higher as industrials lifted the benchmark index, offsetting uncertainties surrounding geopolitical tensions and the timing of central bank rate cuts weighing keeping risk appetites in check.

Treasury yields pushed higher as solid economic data reinforced warnings from Fed officials that restrictive monetary policy might be in place for longer than many had anticipated. The dollar was last essentially unchanged, paring losses following a rare warning by the finance chiefs of the United States, Japan and Korea over the sharp decline in other currencies, which in turn offered the yen some relief.The dollar index rose 0.05 per cent, with the euro down 0.18 per cent to $1.0652.

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