Appetite for treasuries. Jay powell insists it is not the return of qe. Tension sores in the middle east. Turkey says its forces will move into syria at any moment. Shery lets get you started with a check of the markets. U. S. Futures under pressure, fell. 1 after the s p 500 for two consecutive sessions. Semiconductors taking the biggest hit, they fell the most in about six weeks. We have trade headlines sparking concern about tensions intensifying between the u. S. And china. That is upsetting some of the comments coming from fed chair powell, who left the door open for rate cuts. The dow lost more than 300 points while the nasdaq fell 1. 7 . Lets see how we are setting up in asia. Sophie australian markets have lower, asx 200 opening snapping a threeday gain. Bhp shares among the biggest laggards. Studyssie dollar trading after overnight gyrations on the trade brinkmanship. Confidence numbers for october are due in a halfhour. Nikkei futures pointing to a lackluster start. South kor
Losses after strong u. S. Job openings ratchet up wall streets [indiscernible] hitting multiyear highs. The yen is surging from its weakest levels in a year amid speculation japanese officials intervened to slow the currency slide. Plus a republican revolt dumping Kevin Mccarthy as House Speaker, sending a fractious u. S. Congress and to further disarray. Media reports suggesting he will not run for office, for the post again. We are just getting some numbers when it comes to south korean Industrial Production crossing the bloomberg for the month of august. We are seeing a big beat when it comes to Industrial Production. Seasonally adjusted monthtomonth number, 5. 5 against expectations of. 2 and really bouncing back from the contraction of 2 we saw in the prior month. When it comes to Industrial Production, the year on your number, that is a bigger year number, that is a bigger fall than expected, about half a percent. Expectations were a fall of about 6 . A better outcome than expect
Prompted widespread fears and borrowing has prompted collapse. Fears of and, information sought on accounts involved in the elections. We have struggled to hold onto the gains we saw earlier this morning. Today, the u. S. In the red. The only sector still up was technology, but barely. We had that rally, but tech lost ground based on some of the details on the tax reform bill. , want to pull up this chart 879. It shows you how investors have been anticipating the tax bill will be bearish for tech stocks. Shares underperforming since the end of november as more details that come out on tax reform. David it has become a real problem, especially in asia. We have been down for seven days. Four of those dames with the kleins of more than 1 . It has been a drag. Declines ofhose it more than 1 . It has been a drag. Lets look at markets in new zealand, kiwi dollar underwhelming. Gdp,straight come big day, rba Rate Decision not to do anything,. 1 . Yields lower, bonds up, aussie dollar unchange
Set the Alarm Rings Across Asia Desks on Double-Whammy Fed Day bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Asian stocks were a sea of
red on Thursday and bonds slid on bets global interest rates
would stay higher for longer, as investors looked to key
inflation readings at the end of the week for further.