NZD/USD appears to be on track to test the 2018 high (0.7437) as the RBNZ retains the current course for monetary policy at its first meeting for 2021.
Tech leads U.S. stock decline as bond yields soar
Claire Ballentine and Vildana Hajric, Bloomberg News
BNN Bloomberg s mid-morning market update: Feb. 25, 2021 VIDEO SIGN OUT
Tech shares led a rout in U.S. stocks while the selloff in global bonds deepened, with the benchmark Treasury yield spiking to a one-year high and debt from the U.K. to Australia coming under pressure.
The Nasdaq 100 tumbled 3.6 per cent, the most since October, as investors rotated away from pandemic-era winners toward companies poised to benefit from an end to lockdowns. About 10 stocks fell for every one that gained on the S&P 500. Cathie Woodâs ARK Innovation ETF extended its decline, leaving it 15 per cent lower for the week. Stocks popular with the day-trader crowd surged once again, with GameStop Corp. doubling at one point before ending 19 per cent higher.
Tech leads U.S. stock decline as bond yields soar
Claire Ballentine and Vildana Hajric, Bloomberg News
BNN Bloomberg s mid-morning market update: Feb. 25, 2021 VIDEO SIGN OUT
Tech shares led a rout in U.S. stocks while the selloff in global bonds deepened, with the benchmark Treasury yield spiking to a one-year high and debt from the U.K. to Australia coming under pressure.
The Nasdaq 100 tumbled 3.6 per cent, the most since October, as investors rotated away from pandemic-era winners toward companies poised to benefit from an end to lockdowns. About 10 stocks fell for every one that gained on the S&P 500. Cathie Woodâs ARK Innovation ETF extended its decline, leaving it 15 per cent lower for the week. Stocks popular with the day-trader crowd surged once again, with GameStop Corp. doubling at one point before ending 19 per cent higher.
Dow Jones, Russell 2000 Aiming Higher on Accommodative Fed, Fiscal Stimulus 2021-02-25 07:30:00 Daniel Moss, Analyst
Dow Jones, Russell 2000, Federal Reserve, Coronavirus-Relief Package, Inflation – Talking Points:
The Federal Reserve’s commitment to loose monetary policy conditions will likely underpin US equity markets.
Dow Jones is eyeing a push to challenge 33,000 after clearing key resistance.
Bull Flag continuation pattern hints at extended gains for the Russell 2000. Advertisement
Asia-Pacific Recap
Equity markets pushed higher during Asia-Pacific trade, as the Federal Reserve Chairman Jerome Powell reiterated the central bank’s accommodative monetary policy stance. Australia’s ASX 200 climbed 0.83%, Japan’s Nikkei 225 rose 1.67% and Hong Kong’s Hang Seng Index surged 1.75%.