Wed, Jun 23, 2021 @ 03:28 GMT
HomeContributorsFundamental AnalysisMARKET WRAP: Stocks Fell, Safe Haven Back In Demand

MARKET WRAP: Stocks Fell, Safe Haven Back In Demand

*Donald Trump may be reversing more tariffs on China but market is still not happy *Italian political turmoil returns for Europe

Stocks

  • The S&P 500 Index rolled over today and moved back in negative territory. The index dropped over 0.56% as of 15:30 London time.
  • The Stoxx Europe 600 Index fell 0.53% as investors rewarded bond yields and preferred them as a better investment.
  • The UK FTSE finally opened higher but gave up its gains fairly rapidly. It lost 0.35% of its value today.

Currencies

  • The Dollar spot index gained 0.10%. Investors do not see the Fed becoming more dovish.
  • The Euro dropped due to the political meltdown in Italy and calls for euro-dollar parity are back. The euro fell by 0.08%.
  • The British pound fell below the critical level of 1.21 again.
  • The Japanese yen moved higher by 0.21% to 106.32.

Bonds

  • The Yield on 10-year Treasuries fell by five basis points and moved to 1.5487%.
  • Britain’s 10-year yield dropped to 0.424%.

Commodities

  • West Texas Intermediate crude decreased by 0.23%, the WTI made a low of 55.28.
  • Gold crossed above the $1,500 mark and made a high of $1,508.
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