Business
Nasdaq on cusp of correction as Fed chief rattles Wall Street – Sydney Morning Herald
ASX set for a negative start as Jerome Powell’s comments unnerve markets, putting the Nasdaq in correction territory.
Stocks turned sharply lower on Wall Street as bond yields made another upward spike, renewing pressure on high-flying technology companies.
The S&P 500 fell 1.3 per cent on Thursday (US time), its third-straight loss. The Nasdaq pulled back 2.1 per cent, and narrowly avoided falling into a correction. The Dow Jones shed 1.1 per cent.
The losses came as the yield on the 10-year Treasury rose sharply during a question-and-answer session with Federal Reserve Chair Jerome Powell during which Powell…
-
General16 hours agoToni Lamond, known for her roles in Annie Get Your Gun and My Fair Lady, dies aged 93
-
General23 hours agoLiberals go back to basics after crawling to year’s end
-
General17 hours agoPolice continue search for missing man Chris Thorne in Melbourne’s west
-
Noosa News20 hours agoPeregian Square revitalised | Noosa Today