Wall Street's main indexes suffered heavy losses on Monday and the S&P 500 touched its lowest level in a year below 4,000. Although markets stay relatively quiet early Tuesday, US stock index futures are down between 1.3% and 1.7% while theconsolidates its gains below 104.00. ZEW Survey from Germany and the NFIB Business Optimism Index from the US will be looked upon for fresh impetus. Market participants will pay close attention to comments from central bankers as well.
Investors grow increasingly concerned over a global economic slowdown as coronavirus-related restrictions in China continue to weigh on the international trade activity. Despite the falling number of cases in Shanghai, authorities have reportedly tightened measures as the government doubles down on the "zero-COVID policy." Additionally, lingering supply-chain issues are expected to cause global inflation to continue to rise for longer than expected.
Following a 3% decline on Monday, the benchmark 10-year US Treasury bond yield is holding in positive territory above 3.05% early Tuesday. Atlanta Federal Reserve President Raphael Bostic said on Monday that a 75 basis points rate hike was not his baseline scenario but added that the wasn't taking anything off the table. On an optimistic note, Minneapolis Fed President Niel Kashkari said that he was confident that inflation will return to the Fed's 2% target.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: Daily_Forex - 🏆 567. / 51 Read more »
Source: Daily_Forex - 🏆 567. / 51 Read more »
Source: Daily_Forex - 🏆 567. / 51 Read more »
Source: Daily_Forex - 🏆 567. / 51 Read more »
Source: Daily_Forex - 🏆 567. / 51 Read more »