Yield surge eases, taking some heat off stocks
While some indices have seen the selling ease this afternoon, a catalogue of woes have hit the FTSE 100, knocking it to a four-week low, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
Yields ease back, taking some pressure off stocks
“While most indices in Europe remain in the red, losses have slowed, while buyers have made an appearance on Wall Street this afternoon. It’s not much of a bounce in risk appetite, but traders will be glad of any temporary respite. But with the US yield curve continuing to un-invert recession fears are rising again. The drop in oil prices is another welcome development this afternoon, though there’s a long way to go before fears of resurgent inflation can be put to bed.”
FTSE 100 hits one-month low
“Just as the selling pauses in the US, the FTSE 100 has taken off to the downside. Losses in commodity prices have driven another downward leg in miners and oil stocks, but the broader swathe of losses in financial stocks and UK-focused names means there is little positivity to be found among UK investors this afternoon.”
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