Heavy selling is being seen in major Asian markets in today’s business. On the other hand, there was a decline in the US markets on Thursday.
Stock Market Update Today: Global market sentiments are looking very weak for the domestic stock market. Heavy selling is being seen in major Asian markets in today’s business. On the other hand, stock futures are looking flat after Thursday’s fall. Earlier on Thursday, the US markets also saw a fall. There was a weakness of 368 points or 1.05 percent in Dow Jones and it closed at the level of 34,792.76. The S&P 500 index was down 1.48 percent and closed at 4,393.66. While the Nasdaq fell 2.07 percent and closed at the level of 13,174.65.
The chairman of the US Fed has indicated that interest rates may be increased by 50 basis points to keep inflation under control. On the other hand, the 10-year bond yield has risen in the US and reached 2.9 per cent. It has reached this level for the first time since the last months of 2018. Talking about Brent crude, it is weakening slightly and trading below $ 108 per barrel. While US crude is below $ 103 per barrel.
Talking about Asian markets, SGX Nifty is down 1.33 percent, while Nikkei 225 is showing weakness of about 2 percent. Strait Times is down 0.63 per cent and Hang Seng is down 2 per cent. Taiwan Weighted is trading with a fall of 1.03 per cent, while Kospi is down by 1.13 per cent. On the other hand, the Shanghai Composite also declined 0.66 per cent.