US stocks plummet at six-week low
US stocks fell to their lowest level in six weeks on concerns that corporate profits could withstand the Federal Reserve increasing its forces to regulate inflation. Reported Emirates Herald, news agency.
Here are some of the major movements in the markets:
The S&P 500 fell 2.8% at 4:01 p.m. New York time
The Nasdaq 100 fell 3.9%
The Dow Jones Industrial Average fell 2.4%
The MSCI World Index fell 2.1%
The Bloomberg Dollar Spot Index rose 0.5%
The euro fell 0.7% to US$1.0642
Sterling fell 1.2% to $1.2585
The Japanese yen rose 0.5% to 127.45 per dollar.
The 10-year Treasury bond yield fell seven basis points to 2.75%
Germany’s 10-year bond yield fell two basis points to 0.81%
UK 10-year bond yields fell four basis points to 1.80%
West Texas Intermediate crude rose 3.7% to $102.20 a barrel.
Gold futures rose 0.3% to $1,902.30 an ounce.