Stock prices on Wall Street and European exchanges were mostly lower on Wednesday as the yield on US Treasury bonds hit a multi-year high.
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The yield on the US Treasury’s 10-year bond rose to 4.26%, which is the highest level since 2008. It rose after the release of the minutes of the US Federal Reserve (FRS) meeting, which indicated significant risks that the price hike would continue.
The British pound rose after the release of UK inflation data. Annual inflation in Great Britain decreased to 6.8% in July compared to 7.9% in June, thus the lowest level has been recorded since February 2022, the State Statistics Office announced on Wednesday.
Britain’s inflation rate is the highest among the G7 countries, however, and its reduction may not be enough to prevent another interest rate hike in September.
The Dow Jones Industrial Average fell 0.5% to 34,765.74 on Wednesday, the Standard & Poor’s 500 fell 0.8% to 4,404.33, and the Nasdaq Composite fell 1.2% to 13,474.63 points.
London’s FTSE 100 fell 0.4% to 7,356.88 on Wednesday, Frankfurt’s DAX rose 0.1% to 15,789.45 and Paris’ CAC 40 fell 0.1% to 7,260. 25 points.
WTI crude oil fell 2.0% to $79.38 a barrel in electronic trading on the New York Stock Exchange on Wednesday. The price of “Brent” crude oil on the London Stock Exchange decreased by 1.7% to 83.45 dollars per barrel.
On the Dutch exchange “Title Transfer Facility” (TTF) natural gas price fell by 2.65% to 37.78 euros per megawatt hour on Wednesday.
The euro fell to $1.0880/euro on Wednesday from $1.0905 to $1.0880/euro, the British pound rose from $1.2705 to $1.2725/pound to $1.2725/pound, while the dollar/yen rose from 145.57 to 146.33 yen per dollar. The euro fell against the British pound from 85.83 to 85.48 pence per euro.
2023-08-17 06:22:54
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