Global market
Global market: Weak signals are being seen from the global markets. Asian markets have slipped by 1.25 percent. GIFT Nifty is seen down by more than 100 points. At the same time, American indices have fallen by one percent due to the fear of delay in reduction of rates by the Fed.
Dow Jones has slipped by about 400 points. On the other hand, gold has again reached a new high. COMEX GOLD has reached close to $2290. On the other hand, crude oil is also trading at a 6-month high. Brent has crossed 89. Prices have risen due to reduced supply and Middle East crisis.
US Markets
Yesterday, US markets closed with a decline. The S&P500 index closed with a decline for the second consecutive day. There is apprehension in the market about interest rates not being reduced in the US this year. US markets are back to a situation of good news bad news. Strong economy and high crude oil prices are increasing uncertainty about rate cuts in the US. US markets have fallen due to concern about rates. Gold and crude oil prices have also increased.
Yesterday, S&P500 saw a decline for the second consecutive day. Dow Jones closed with a decline of 396 points and S&P 500 index closed with a decline of 38 points. On the other hand, Nasdaq closed with a weakness of 156 points. Analysts now doubt the Fed will cut interest rates at all this year.
Rising oil prices and bond yields as well as job data have put pressure on the market. The benchmark 10-year bond yield has reached a four-month high of 4.405 percent. US job opening data JOLT rose from 8,000 to 8.756 million in February. Gold also broke the new record of $2300 due to Middle East tensions. Brent crude has gone above $89 due to rising geopolitical tensions, which is the highest level since October. OPEC+ meeting will be held today. It is likely that the decision to cut production will continue.
Big fall in Asian markets
Today, Asian markets are witnessing a huge decline in trading. Nifty is seen at 22,460 with a decline of 148 points. At the same time, Nikkei is seen around 39,428.58 with a weakness of 410.33 points i.e. about 1.04 percent. Strait Times is trading with a decline of 19.95 points i.e. 0.61 percent. At the same time, Taiwan’s market is seen at 20,350.67 with a decline of 104.47 points i.e. 0.51 percent. While Hong Kong’s Hang Seng is trading at 16,748.39 with a decline of 169.90 points i.e. 1.00 percent. At the same time, KOSPI is showing a decline of 1.55 percent. While Shanghai Composite is trading at 3,058.24 with a decline of 16.72 points i.e. 0.54 percent.