Kitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
NEW YORK, Sept 21 - Wall Street tumbled on Thursday, with investor risk appetite dampened by worries that the Federal Reserve's monetary policy will remain restrictive for longer.
If current levels hold, the S&P 500 will close at its lowest since late June and the Nasdaq posting its lowest close since mid-August. But revised economic projections, including the closely watched dot plot, showed interest rates will remain elevated through next year, dampening hopes for a dovish policy pivot before 2025.
"Higher for longer" has become a common credo among the central banks of the world's biggest economies as global policy tightening, in order to tame inflation, reaches its peak. Semiconductor firm Broadcom slid 1.7% following a report that Alphabet-owned Google's executives discussed dropping the company as a supplier of artificial intelligence chips as early as 2027.Klaviyo Inc gained 0.2% the day after its debut as a public company, while another recent IPO, Arm Holdings was off 2.9% and threatening to break below its $51 offer price.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US two-year Treasury yield rises to 17-year high on hawkish FedBy Kevin Buckland TOKYO (Reuters) - The yield on two-year U.S. Treasury notes rose to a 17-year high of 5.1970% on Thursday, a day after the Federal ...
Read more »
Futures drop as Treasury yields rise after Fed's hawkish pauseRate-sensitive stocks including Apple, Meta Platforms, Alphabet, and Nvidia fell between 0.5% and 1.5% in premarket trading as the two-year and 10-year Treasury yields scaled multi-year highs. The U.S. central bank delivered a widely anticipated pause on Wednesday and revised economic projections higher with warnings that the battle against inflation was far from over, prompting a weak session for Wall Street. The Fed's updated quarterly projections showed chances of the key rate being lifted one more time in 2023 to a peak range of 5.50%-5.75% and significantly tighter rates through 2024 than previously expected.
Read more »
Futures drop as Treasury yields rise after Fed's hawkish pause(Reuters) - U.S. stock index futures declined on Thursday as growth stocks took a hit from a jump in Treasury yields after the Federal Reserve held ...
Read more »
Futures drop as Treasury yields rise after Fed's hawkish pauseKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
Read more »
Fed hawkishness prompts HSBC to raise 10-year Treasury yield targetFirm’s analysts: ‘There is pressure for short-dated bond yields to remain elevated, and this affects the whole curve’
Read more »
Fed hawkishness prompts HSBC to raise 10-year Treasury yield targetBy David Randall NEW YORK (Reuters) - The Federal Reserve's expectations that the U.S. economy will continue to expand and necessitate additional ...
Read more »