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Asian shares slipped with Wall Street on Thursday, while a sharp fall in oil prices to a five-month low promised to further reduce inflationary pressures and helped boost the global bond market. ... -December 06, 2023 at 08:47 pm EST - MarketScreener
Overnight, Wall Street was dragged lower by energy stocks as oil prices slid. The Dow Jones slipped 0.2%, the S&P 500 lost 0.4%, and the Nasdaq Composite fell 0.6%.
Equities fall, while a sharp decline in oil prices promises to further reduce inflationary pressures
Overstretched technicals and the belief that the Federal Reserve will not cut interest rates as quickly as markets expect have turned equity strategists at JPMorgan and Morgan Stanley pessimistic.
After a roaring rally in November that sent the S&P 500 surging 9% and US bond yields tumbling, markets are now trading more cautiously.