Nasdaq braced for beating as bond markets drive up costs – Reuters
- Date: 18-Jan-2022
- Source: Reuters
- Sector:Financial Markets
- Country:Gulf
Nasdaq braced for beating as bond markets drive up costs – Reuters
LONDON, Jan 18 (Reuters) - Nasdaq traders were braced for a fresh pounding on Tuesday as a seven-year high for oil prices drove up global borrowing costs to pre-COVID levels, with even sub-zero German Bund yields at the brink of positive territory again.
Europe's big bourses were already down over 1% EU. but dealers were nervously eyeing -1.6% Nasdaq futures where higher interest rates on ultra-safe bonds now make stratospheric valuations on tech stocks look ever more balmy.
The Nasdaq's 4.5% loss so this year masks deeper falls -- 29 shares have lost 10% or more already this year, according to Capital Economics.
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