{Economic Information Agency, 24th Exclusive} U.S. stocks' three major indexes all declined on Wednesday (23rd), as market attention focused on rising U.S. bond yields and oil prices, coupled with investor concerns that the Fed might further tighten monetary policy, pressuring technology stocks, with Nasdaq falling over 1%. Amid President Xi Jinping's arrival in the U.S. for a state visit, U.S. Treasury Secretary Bessent announced the extension of the U.S.-China trade truce to January 10 next year, drawing significant market attention.
Dow Jones closed down 352.1 points, or 0.68%, at 51,511.59 points; S&P 500 fell 58.59 points, or 0.75%, to 7,706.05 points; Nasdaq dropped 308.24 points, or 1.13%, to 26,936.04 points.
*Iranian President takes a tough stance, Brent crude surpasses $100*
Iranian President Pezeshkian stated during his speech at the United Nations General Assembly that Tehran would not yield to the United States. Crude oil prices rose against the trend. Brent crude futures rose about 3.6%, currently at $102.8 per barrel, returning above $100; New York crude futures rose about 1.8%, currently at $92.18 per barrel.
*U.S. bond yields generally rise above 5%*
Market sentiment was dragged down by rising U.S. bond yields and oil prices. The yield on U.S. 5-year Treasury bonds rose above 5% for the first time in nearly 20 years, increasing by 20 basis points to 5.03%. The 10-year yield briefly rose to around 5.09%, and the 30-year yield also climbed to around 5.39%. Additionally, strong performance in U.S. September business activity data heightened market expectations for another Fed rate hike at its October meeting.
Among large-cap tech stocks, Alphabet (US.GOOGL) fell 3.8%, Amazon (US.AMZN) dropped 2.2%, Nvidia (US.NVDA) declined 1.5%, Apple (US.AAPL) fell 0.8%; SpaceX (US.SPCX) dropped 4.1%. Meta (US.META) rose 1%, Microsoft (US.MSFT) gained 0.5%, and Tesla (US.TSLA) rose 0.3%.
*Dollar vs. yen continues strength*
The dollar strengthened, with the U.S. Dollar Index rising to a nearly two-month high, at about 101.1, up approximately 0.5%, briefly touching 101.23 during the session, a new high since July 29. The dollar-yen exchange rate continued its strong trend, briefly rising to around 158.4 during the session, currently at 158.31, up about 0.6%. The euro-dollar exchange rate remained weak, currently at 1.1385 dollars, down about 0.5%.
The dollar's strength and the Fed's hawkish rhetoric pressured gold prices. Spot gold fell 1.7%, at $4,283 per ounce; New York futures gold dropped 1.3%, at $4,319. (yc)
Dow Jones closed down 352.1 points, or 0.68%, at 51,511.59 points; S&P 500 fell 58.59 points, or 0.75%, to 7,706.05 points; Nasdaq dropped 308.24 points, or 1.13%, to 26,936.04 points.
*Iranian President takes a tough stance, Brent crude surpasses $100*
Iranian President Pezeshkian stated during his speech at the United Nations General Assembly that Tehran would not yield to the United States. Crude oil prices rose against the trend. Brent crude futures rose about 3.6%, currently at $102.8 per barrel, returning above $100; New York crude futures rose about 1.8%, currently at $92.18 per barrel.
*U.S. bond yields generally rise above 5%*
Market sentiment was dragged down by rising U.S. bond yields and oil prices. The yield on U.S. 5-year Treasury bonds rose above 5% for the first time in nearly 20 years, increasing by 20 basis points to 5.03%. The 10-year yield briefly rose to around 5.09%, and the 30-year yield also climbed to around 5.39%. Additionally, strong performance in U.S. September business activity data heightened market expectations for another Fed rate hike at its October meeting.
Among large-cap tech stocks, Alphabet (US.GOOGL) fell 3.8%, Amazon (US.AMZN) dropped 2.2%, Nvidia (US.NVDA) declined 1.5%, Apple (US.AAPL) fell 0.8%; SpaceX (US.SPCX) dropped 4.1%. Meta (US.META) rose 1%, Microsoft (US.MSFT) gained 0.5%, and Tesla (US.TSLA) rose 0.3%.
*Dollar vs. yen continues strength*
The dollar strengthened, with the U.S. Dollar Index rising to a nearly two-month high, at about 101.1, up approximately 0.5%, briefly touching 101.23 during the session, a new high since July 29. The dollar-yen exchange rate continued its strong trend, briefly rising to around 158.4 during the session, currently at 158.31, up about 0.6%. The euro-dollar exchange rate remained weak, currently at 1.1385 dollars, down about 0.5%.
The dollar's strength and the Fed's hawkish rhetoric pressured gold prices. Spot gold fell 1.7%, at $4,283 per ounce; New York futures gold dropped 1.3%, at $4,319. (yc)
