{Economic Information Agency 29th exclusive} US stocks fell on Monday (28th), as markets continued to be weighed down by rising US Treasury yields, higher oil prices and growing inflation concerns. Investors are also monitoring the developments in US-Iran relations and a series of inflation and employment data due this week to assess the Federal Reserve's future interest rate path.
The Dow Jones一度 fell more than 400 points during trading, and the Nasdaq also declined nearly 1%. At closing, the Dow Jones fell 347.11 points, or 0.67%, to 51481.51 points; the S&P 500 dropped 59.72 points, or 0.77%, to 7683.69 points; the Nasdaq fell 248.34 points, or 0.92%, to 26820.38 points.
In the US bond market, the yield on 10-year US Treasury bonds rose to about 5.27%, further increasing from last week's 5.17%, returning to pre-2007 financial crisis levels; the yield on 30-year US Treasuries also rose from 5.49% to about 5.57%, maintaining multi-year highs.
*Oil price gains narrow*
In the oil market, uncertainty in US-Iran talks has renewed supply risks. Oil prices surged sharply earlier on Monday, but gains narrowed later as markets digested news on the talks. Both New York crude and Brent crude moved upward. New York crude settled at $92.81 per barrel, up 0.4%; Brent crude at $98.08, up 0.6%.
NVIDIA (US.NVDA) rose 1.7% against the market trend, boosted by the company's announcement to spend up to another $150 billion on share buybacks, increasing the total of its existing buyback program to $235 billion.
Other major tech stocks were generally under pressure, SpaceX (US.SPCX) fell 2.2%, Tesla (US.TSLA) dropped 3.9%, Meta (US.META) declined 4.8%, Apple (US.AAPL) fell 0.8%, Microsoft (US.MSFT) dropped 1.4%, Google (US.GOOG) fell 0.6%, Amazon (US.AMZN) declined 1.4%.
Gold prices were significantly pressured. Spot gold fell about 3.5%, to $4132 per ounce; New York futures gold also dropped about 3.6%, to around $4163 per ounce. Gold prices一度 widened losses to about 4% during the session, hitting the lowest since August 5, continuing its recent weakness.
*US dollar remains high*
In the foreign exchange market, the US dollar index remained near a two-month high, rising about 0.15% to around 101.2, with an intraday high of 101.31, still hovering near its two-month peak. The dollar-yen pair remained strong, with yen reversing last week's gains; dollar-yen一度 rose to the 157.8 level, up 0.1%. The euro-dollar pair was dragged down by the stronger dollar, with the euro remaining weak near lows, at 1.1368 dollars, down about 0.2%. (kk)
The Dow Jones一度 fell more than 400 points during trading, and the Nasdaq also declined nearly 1%. At closing, the Dow Jones fell 347.11 points, or 0.67%, to 51481.51 points; the S&P 500 dropped 59.72 points, or 0.77%, to 7683.69 points; the Nasdaq fell 248.34 points, or 0.92%, to 26820.38 points.
In the US bond market, the yield on 10-year US Treasury bonds rose to about 5.27%, further increasing from last week's 5.17%, returning to pre-2007 financial crisis levels; the yield on 30-year US Treasuries also rose from 5.49% to about 5.57%, maintaining multi-year highs.
*Oil price gains narrow*
In the oil market, uncertainty in US-Iran talks has renewed supply risks. Oil prices surged sharply earlier on Monday, but gains narrowed later as markets digested news on the talks. Both New York crude and Brent crude moved upward. New York crude settled at $92.81 per barrel, up 0.4%; Brent crude at $98.08, up 0.6%.
NVIDIA (US.NVDA) rose 1.7% against the market trend, boosted by the company's announcement to spend up to another $150 billion on share buybacks, increasing the total of its existing buyback program to $235 billion.
Other major tech stocks were generally under pressure, SpaceX (US.SPCX) fell 2.2%, Tesla (US.TSLA) dropped 3.9%, Meta (US.META) declined 4.8%, Apple (US.AAPL) fell 0.8%, Microsoft (US.MSFT) dropped 1.4%, Google (US.GOOG) fell 0.6%, Amazon (US.AMZN) declined 1.4%.
Gold prices were significantly pressured. Spot gold fell about 3.5%, to $4132 per ounce; New York futures gold also dropped about 3.6%, to around $4163 per ounce. Gold prices一度 widened losses to about 4% during the session, hitting the lowest since August 5, continuing its recent weakness.
*US dollar remains high*
In the foreign exchange market, the US dollar index remained near a two-month high, rising about 0.15% to around 101.2, with an intraday high of 101.31, still hovering near its two-month peak. The dollar-yen pair remained strong, with yen reversing last week's gains; dollar-yen一度 rose to the 157.8 level, up 0.1%. The euro-dollar pair was dragged down by the stronger dollar, with the euro remaining weak near lows, at 1.1368 dollars, down about 0.2%. (kk)
