World markets today: US stocks slip on rising Treasury yields
US stock indices opened lower on Tuesday on rising Treasury yields.
The Dow Jones Industrial Average fell 159.46 points, or 0.42 per cent, at the open to 37,523.55. The S&P 500 opened lower by 21.61 points, or 0.45 per cent, at 4,741.93. The Nasdaq Composite dropped 99.64 points, or 0.67 per cent, to 14,744.13 at the opening bell.
The 10-year US Treasury yield added 4 basis points (bps) at 4.04 per cent and was sharply above a five-month low of 3.783 per cent hit on December 27.
Tech stocks declined on Tuesday, a day after rallying.
Microchip Technology shed 1 per cent after it said it expects fall in revenue in the last quarter.
Boeing continued its fall on Tuesday, with its stock dropping 1.9 per cent.
On Monday, US stocks closed higher. The Dow Jones Industrial Average rose 216.90 points, or 0.58 per cent, to 37,683.01, the S&P 500 gained 66.30 points, or 1.41 per cent, to 4,763.54 and the Nasdaq Composite gained 319.70 points, or 2.20 per cent, to 14,843.77.
In Europe, stock markets were lower after Germany’s industrial output contracted.
Industrial production of Germany, Europe’s largest economy, fell 0.7 per cent in November.
Britain’s FTSE 100 edged down 0.1 per cent at 7,684.71 points. Germany’s DAX fell 0.5 per cent at 16,625.61 points. France’s CAC 40 lost 0.5 per cent at 7,412.25 points.
In Asian stock markets, China’s Shanghai Composite rose 0.3 per cent to 2,897.34. Hong Kong’s Hang Seng Index slipped 0.2 per cent to 16,190.02.
Japan’s Nikkei 225 edged up 1.2 per cent at 33,763.18.
South Korea’s Kospi shed 0.3 per cent to 2,561.24. Australia’s S&P/ASX 200 jumped 0.9 per cent to 7,520.50.
Oil prices surged by more than $2 on Tuesday on Middle East tensions and reduced Libyan output.
Brent crude futures rose by $2, or 2.63 per cent, to $78.12 a barrel at 1312 GMT, while US West Texas Intermediate crude futures gained $2.09, or 2.95 per cent, to $72.86 a barrel.
Gold prices rose on Tuesday after falling to a three-week low in the previous session.
Spot gold was up 0.3 per cent at $2,034.70 per ounce, as of 1248 GMT. US gold futures rose 0.4 per cent to $2,041.70 per ounce.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates.
Published: 09 Jan 2024, 08:44 PM IST
