After rising to its highest levels since 2008, US bond yields In the decline in share prices, its three main indices ended the trading day with a decline of 1% in any of them, in the first daily loss witnessed by the shares this week.
In trading on Wednesday, the yields of the benchmark 10-year US Treasury bonds recorded 4.13%, for the first time since the height of the global financial crisis in 2008, and this had negative consequences for stocks, as these bonds are the most famous andmost influential On different types of assets, not only in America, but in most major economies.
By the end of today’s trading, the “Nasdaq” index lost, most affected With interest rate changes, 0.85% of its value, the “S&P 500” index declined by 0.67%, while the losses of the “Dow Jones Industrial Average” stopped at 0.33% of its value.
In the same direction, interest rates pressured the prices of precious metals, which in previous times were the refuge of investors at the time of high inflation, to decline the price of gold with the closing of today by more than twenty dollars per ounce, recording a price of 1634.20 dollars, in the upcoming December deliveries.
Meanwhile, despite the US President’s pledge topumping 15 million barrels Of his country’s strategic oil reserves, crude prices continued to rise on Wednesday, with West Texas crude jumping 3.3%, recording a price of $85.55 a barrel in November deliveries, while Brent crude rose by 2.6%, recording a price of $92.41 a barrel.
The rise in US bond yields again helped the US currency to rise against world currenciesAnd the most striking case was that it approached the price of 150 yen per dollar, for the first time in 32 years, awaiting new interventions from the Japanese central bank and the Ministry of Finance.