On Thursday, October 19, the U.S. stock markets ended lower as treasury Yields continued to climb, with the 10-year note reaching its highest level in 16 years, approaching nearly 5%.
Powell, addressing the Economic Club in New York, stated that U.S. central bankers are proceeding cautiously after last year’s rate hikes but acknowledged that further rate increases could be warranted due to the strong economy and tight labor market.
Related: Powell’s Interest Rate Remarks Trigger Thursday Roller Coaster: What Did Fed Chair Say?
The Dow Jones Industrial Average declined by 0.75% to 33,414.17, the S&P 500 dipped 0.85% to 4,278.00, while the Nasdaq Composite fell by 0.96% and closed at 13,186.17.
Asian Markets Today
Eurozone at 06:30 AM ET
- The European STOXX 600 index was down 1%.
- Germany’s DAX declined 1.23%.
- France’s CAC slid 1.21%.
- The U.K.’s FTSE 100 traded lower by 0.88%.
Commodities at 06:30 AM ET
- Crude Oil WTI was trading higher by 1.28% at $89.53/bbl, and Brent was up 1.19% at $93.48/bbl.
- Natural Gas declined 0.41% to $2.945.
- Gold was trading higher by 0.78% at $1,995.85, Silver gained 1.39% to $23.352, and Copper was down 0.74% to $3.5743.
US Futures at 06:30 AM ET
Dow futures were down 0.25%, S&P 500 futures declined 0.27%, while Nasdaq 100 futures slid by 0.33%.
Forex at 06:30 AM ET
The U.S. Dollar Index inched lower by 0.05% to 106.20. USD/JPY rose 0.10% to 149.94, and AUD/USD gained 0.30% to 1.5848.
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