Stocks slide on tech sell-off, bond yields steady

stocks slide on tech sell off bond yields steady

Breadcrumb Trail Links

PMN Business

Author of the article:


Herbert Lash and Danilo Masoni

Publishing date:

Feb 23, 2021  •  10 minutes ago  •  3 minute read

Article content

NEW YORK/MILAN — Global equity markets slid on Tuesday as a rally in commodity-related assets gave in to pressure from fears of an over-bought market as investors dumped tech stocks, though remarks by Federal Reserve Chair Jerome Powell helped calm sentiment.

Copper, a leading indicator of the economic cycle, touched a fresh 9-1/2 year high before paring gains as equities markets fell, while oil traded close to more than one-year highs as the easing of coronavirus lockdowns was expected to boost demand.

Gold slid as the dollar rebounded from six-week lows, with other precious metals joining the slide. But a degree of angst was reflected in Cboe’s market volatility index, up 6.9% and touching multi-week highs.

Powell said in prepared remarks for a U.S. Senate Banking Committee hearing that the recovery remains “uneven and far from complete,” and that it will be “some time” before the Fed considers changing policies aimed at helping regain full employment.

Powell believes monetary policy needs to be supportive and that there is a long way to go to repair the jobs market and before inflation becomes a concern, said Michael Arone, chief investment strategist at State Street Global Advisors in Boston…

Want to know more click here go to source.

From -
Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages

Site Language

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.