US stocks fall the most in a month

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The University of Michigan’s preliminary confidence index showed that U.S. consumer confidence edged up in early September, but remained near a near-decade low, as buying conditions deteriorated. at their worst since 1980 due to high prices.

Asian stocks were mixed amid the China Evergrande group debt crisis and a short-term cash injection by the central bank to help ease nerves.

“We are not necessarily in a time of many negative catalysts, we are in a time of lack of positive catalysts,” said Randy Frederick, managing director of trading and derivatives at the Schwab Center for Financial Research. “And we might not get a huge boost until we get something positive like potential profits, which is still a few weeks away.”

Global equities posted a second weekly decline, dampened by the impact of the delta variant on the economic reopening, the implications of high inflation and the turmoil in China.

The Federal Reserve will likely imply at its meeting next week that it is preparing to cut back on its monthly asset purchases and will make an official announcement in November, according to a Bloomberg survey of economists.

Meanwhile, Martins Kazaks, a member of the Governing Council of the European Central Bank, said in an interview with Bloomberg that the euro area inflation outlook could turn out to be higher than currently expected if the coronavirus does not inflict no new shocks.

Oil slipped, while gold rose. A commodity price index has fallen, but remains in sight of a record high in 2011, underscoring inflationary concerns spilling over into the global economy.

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The&P 500 fell 0.9% at 4:05 p.m. New York time

The Nasdaq 100 fell 1.2%

The Dow Jones Industrial Average fell 0.5%

MSCI World index fell 0.7%

Currencies

Bloomberg Dollar Spot Index rose 0.3%

The euro fell 0.3 percent to US $ 1.1730: the pound sterling fell 0.4 percent to US $ 1.3737; the Japanese yen fell 0.2% to 109.95 per US dollar

Obligations

The yield on 10-year treasury bills rose three basis points to 1.37%

The German 10-year yield rose two basis points to -0.28 percent; UK 10-year yield rose three basis points to 0.85%

Merchandise

West Texas Intermediate crude fell 0.9% to US $ 71.98 a barrel

Gold futures fell 0.3% to US $ 1,752.10 an ounce

The spot price of iron ore as quoted by Fastmarkets MB fell US $ 5.26 or 4.9 percent to US $ 101.95 per tonne.

Bloomberg


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