Global stock markets, US futures sink after Treasury selloff eases
- Date: 02-Mar-2021
- Source: Gulf Today
- Sector:Financial Markets
- Country:Middle East
Global stock markets, US futures sink after Treasury selloff eases
Picture used for illustrative purpose.
Global stock markets and Wall Street futures declined on Tuesday after a selloff in the US Treasury debt eased, helping to allay concern about a possible rise in interest rates.
Tokyo, Shanghai and Hong Kong closed lower and Frankfurt retreated in early trading. London opened higher. Overnight, Wall Street's benchmark S&P 500 index climbed 2.4%, recovering most of its losses from the past week.
That came after a Treasury selloff abated after pushing yields to their highest level in a year. That helped to dampen concerns about a possible rise in interest rates and downward pressure on the US economic recovery.Investors “appear to be taking a breather” after Monday's recovery, Jeffrey Halley of Oanda said in a report.
Also Tuesday, Australia's central bank left its policy unchanged at its March meeting.
Japan reported employment rose despite a state of emergency to cope with renewed