Home Business Oct. 4 Stock Market Live Updates: Dow, S&P Tracking At-a-Glance

Oct. 4 Stock Market Live Updates: Dow, S&P Tracking At-a-Glance

Oct. 4 Stock Market Live Updates: Dow, S&P Tracking At-a-Glance

Asian shares saw a significant decline as they mirrored the losses on Wall Street. This was due to better-than-expected US employment data, which supported the argument for the Federal Reserve to maintain high interest rates and subsequently caused Treasury yields to rise. MSCI’s Asia stock benchmark was heading towards a technical correction as Japanese, South Korean, and Hong Kong shares dropped by over 1%. In line with this trend, US equity contracts also experienced a slight decline. Additionally, the New Zealand dollar weakened following the central bank’s decision to keep interest rates unchanged, indicating a cautious outlook on economic growth.

The impact of the strong US employment data rippled through Asian markets, causing a decline in shares. Investors were concerned that the positive economic indicators would prompt the Federal Reserve to continue with its plans to raise interest rates. As a result, Treasury yields increased, affecting the attractiveness of stocks and leading to a drop in MSCI’s Asia stock benchmark. Japanese, South Korean, and Hong Kong shares all experienced losses of over 1%. This bearish sentiment extended to US equity contracts, further contributing to the overall decline in Asian shares. In addition to these factors, the New Zealand dollar also took a hit as the central bank opted to maintain the current interest rates, signalling a subdued growth forecast.

The repercussions of the better-than-expected US employment data were felt across Asian markets. The strong economic figures prompted concerns among investors about the future direction of monetary policy. With the Federal Reserve likely to maintain elevated interest rates, Treasury yields rose, leading to a decrease in the appeal of stocks. This sentiment translated into a significant decline in MSCI’s Asia stock benchmark, particularly in Japan, South Korea, and Hong Kong where shares dropped by more than 1%. US equity contracts also saw a slight decrease. Moreover, the decision of the New Zealand central bank to keep interest rates unchanged further added to the negative sentiment, resulting in a decline in the New Zealand dollar.

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