Markets Caught in a Tug-of-War
TDT | Agencies
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Global markets ended a volatile week as investors weighed tighter monetary policy against shifting geopolitical developments in the Middle East. Wall Street closed mixed, while oil prices extended their decline.
The S&P 500 gained 0.17% to 7,650.50, while the Nasdaq Composite rose 0.39% to 26,522.55. The Dow Jones Industrial Average fell 95.40 points, or 0.18%, to 51,682.64, recording its weakest weekly performance since March.
The 10-year US Treasury yield moved toward 5%, adding pressure to rate-sensitive stocks. Investors also assessed expectations for another Federal Reserve rate hike later this year, while the Bank of Japan raised its policy rate to 1.25%.
In energy markets, Brent crude fell 0.93% to $104.87 a barrel, while WTI dropped 1.58% to $100.30.
Oil prices declined for a third consecutive session following reports of diplomatic efforts to curb Houthi attacks on regional energy infrastructure.
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