Oil tops $100, triggering global stock selloff
Oil remains above $100, fueling a broad selloff in Asian and US markets as investors fear persistent inflation and rate hikes. While energy stocks and Meta Platforms posted gains, the broader equity indices face pressure from record diesel prices, rising Treasury yields, and upcoming inflation data expected to show rates remaining above the Federal Reserve's target.
According to GN auto markets/indices: stock index, the Brent crude pullback to $100.39 has not halted the equity slide, with the S&P 500 and Dow Jones both posting weekly losses despite modest gains in US futures. The report highlights that Meta Platforms bucked the trend with a 6.6% jump following the launch of its new AI agent, while the US Treasury’s $6 billion bond buyback failed to suppress rising yields.
Source: GN auto markets/indices: stock indexAsian equity markets continued their decline on Thursday, with the Nikkei 225 dropping 0.8% and the Hang Seng index falling 1.4%, following Wednesday's retreat on Wall Street. While U.S. futures showed modest gains, the region remained pressured by the sustained surge in energy costs.
Source: GN auto markets/indices: stock indexAsian equity markets have extended their decline following Wednesday's Wall Street retreat, with the Nikkei 225 dropping 0.8% and the Hang Seng falling 1.4% as Brent crude hovers near $101. According to GN auto markets/indices: stock index, the continued disruption in the Strait of Hormuz is keeping a lid on regional risk appetite despite modest gains in U.S. futures.
Source: GN auto markets/indices: stock indexBrent crude reached $101.94, driving a sharp decline in Asian and US equity markets as investors price in higher inflation and imminent rate hikes.
Source: GN markets/policy (en-US)
