U.S. stocks plunged overnight: the Nasdaq fell 5.52%, entering a technical correction; the S&P 500 fell 4.36%, the Dow fell 3.44% (-1,833 points), and the Philadelphia Semiconductor Index dropped 12%.
Money flowed into bonds: the official closing yield on 10-year Treasuries was 4.84% (down 6 basis points), while the 2-year yield was 4.46%; the probability of a rate hike in December fell from around 80% to around 69%.
The Asian open was even rougher: Japan’s Nikkei fell about 6.5%, South Korea’s KOSPI fell about 7.7% and triggered a circuit breaker, the Shanghai Composite fell about 1.7%, and the ChiNext Index fell about 3.9%. Tonight’s nonfarm payrolls are expected to come in at around 60,000. A weak reading could prompt a rebound-buying opportunity; a strong one could revive rate-hike expectations.
#美股 #Fed
Not investment advice
Money flowed into bonds: the official closing yield on 10-year Treasuries was 4.84% (down 6 basis points), while the 2-year yield was 4.46%; the probability of a rate hike in December fell from around 80% to around 69%.
The Asian open was even rougher: Japan’s Nikkei fell about 6.5%, South Korea’s KOSPI fell about 7.7% and triggered a circuit breaker, the Shanghai Composite fell about 1.7%, and the ChiNext Index fell about 3.9%. Tonight’s nonfarm payrolls are expected to come in at around 60,000. A weak reading could prompt a rebound-buying opportunity; a strong one could revive rate-hike expectations.
#美股 #Fed
Not investment advice