Global markets today: US stocks end mixed, European shares fall amid higher bond yields, Middle East conflict
World markets today: In global markets on Monday, the US stocks closed mixed and the European shares declined amid higher bond yields and the ongoing Middle East conflict.
The benchmark US treasury yield pulled back after crossing 5% on Monday. The rise in yields has been driven by a surge in government debt and supply of bonds around the world, as economic uncertainty led investors to demand a higher premium to hold longer-dated bonds.
MSCI’s gauge of equity performance across the globe gained 0.22%.
Wall Street
The US stocks ended mixed on Monday as treasury yields backed down from 5%.
The S&P 500 lost 7.31 points, or 0.17%, to end at 4,216.85 points. The Nasdaq Composite gained 35.31 points, or 0.27%, at 13,019.12. The Dow Jones Industrial Average fell 191.56 points, or 0.58%, at 32,935.72.
The 10-year treasury yield hit 5.021%, a 16-year high, but then pulled back, last trading at 4.835% on that day.
Currencies
The US dollar slipped at 149.58 Japanese yen from 149.87. The euro rose at $1.0675 from $1.0592.
Energy prices
The US crude oil benchmark for December delivery fell $2.59 at $85.49 a barrel on Monday. Brent crude for December delivery lost $2.33 at $89.83 a barrel. Natural gas for November delivery rose 3 cents at $2.93 per 1,000 cubic feet.
Europe
European shares fell on Monday, with the pan-European STOXX 600 closing 0.1% lower after decline of over 3% in the previous week.
Britain’s FTSE 100 fell 0.4% at 7,374.83 points. Germany’s DAX added 0.02% at 14,800.72. France’s CAC 40 rose 0.5% at 6,850.47.
Italy’s FTSE MIB index gained 0.7%, boosted by a 2.6% rise in UniCredit as the lender planned to buy a 9% stake in Alpha Bank.
Among the sectoral indices, miners shed 1.1%, real estate declined 0.6%.
Asia
Asian stock markets slid on Monday.
China’s Shanghai Composite fell 1.5% at 2,939.29.
Japan’s Nikkei 225 edged down 0.8% at 30,999.55.
South Korean benchmark Kospi closed down 17.98 points, or 0.76%, at 2,357.02.
Hong Kong’s Hang Seng Index was closed for holiday.
Bullion
Gold for December delivery fell $6.60 at $1,987.80 an ounce. Silver for December delivery lost 29 cents at $23.21 an ounce.
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Updated: 24 Oct 2023, 01:45 AM IST
