Trading Day: $100 Oil Bites
Middle East conflict and a Treasury buyback plan lifted oil above $100 a barrel as U.S. stocks fell and bond yields hit multi-year highs.
- Global stocks fell on Wednesday as entrenched conflict in the Middle East pushed oil prices above $100 a barrel, while bond yields rose to fresh multi-year highs as investors reacted negatively to the Treasury's plan to triple bond buybacks.
- Flaring hostilities in the Middle East drove Brent crude futures near $100 a barrel after Yemen's Tehran-backed Houthis attacked Saudi oil installations, marking a significant expansion of the six-month-old war.
- The Treasury announced it will buy back up to $6 billion of long-dated bonds on Thursday, three times its last buyback, intensifying pressure on yields approaching 5%, a level unsustained in almost two decades.
- Software stocks fell 1.4% and industrials dropped 1.5% as major indices declined, while energy stocks rose 1% as the only sector to gain amid the broader market selloff.
- PIMCO's Lotfi Karoui notes "Balanced portfolios are back: Higher bond yields are restoring fixed income," while investors view the 5% yield as a potential "buy" despite lingering market caution.
13 Articles
13 Articles
Channel News Asia
PressNewsAgencyTrading Day: $100 oil bites
ORLANDO, Florida, Sept 9 : Stocks around the world fell on Wednesday as entrenched conflict in the Middle East pushed oil prices above $100 a barrel, while bond yields rose to fresh multi-year highs as investors reacted negatively to the U.S. Treasury's plan to triple bond buybacks. In my column today, I loo
(New York = Yonhap News) Correspondent Lim Soo-jung = The three major New York stock indices fell across the board on the 9th (local time) due to the impact of international oil prices surpassing $100 and a surge in U.S. Treasury yields.
Reformatorisch Dagblad
welingelichtekringen.nlNew York stock exchanges closed lower on Wednesday. Investors are concerned about the escalating fighting between Iran and the United States and rising energy prices. The price of a barrel of Brent crude rose above $100 for the first time since July.
US markets fell for a third straight day on Wednesday as the conflict in the Middle East intensified and Treasury yields rose.
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