Stocks, Bonds Fall as Rate Hikes Left on the Table: Markets Wrap
- S&P 500 stuck below key level in light summer trading
- Yen weakens to level that triggered September’s intervention
WATCH: Steven Major of HSBC shares his views on Chinese government bonds, US Treasuries and central banks’ policies.
Source: BloombergThis article is for subscribers only.
Pressure on US equities and Treasuries ramped up in the final minutes of Wednesday’s session as traders digested hawkish comments from Federal Reserve officials at their last meeting.
The S&P 500 dropped 0.8%, slumping for the second day in a row, amid concerns the central bank would continue to raise interest rates. The Nasdaq 100 slid 2.2% over a two-day losing streak as tech behemoths including Meta Platforms Inc. and Amazon.com Inc. along with Tesla Inc. dragged on the equities benchmarks.