Stock market today: Asian shares track Wall Street's slide on worries over interest rates
Will High Interest Rates Crash Global Markets?
Asian markets fell, tracking a decline on Wall Street spurred by strong U.S. economic reports that hinted at persistently high interest rates. Key Asian indices like Japan’s Nikkei and Hong Kong’s Hang Seng dropped significantly. U.S. futures and oil prices saw slight increases amidst the broader downturn. In the U.S., robust business activity and a solid job market raised concerns that the Federal Reserve might delay interest rate cuts, pushing Treasury yields higher and affecting stock prices negatively.
Which U.S. stock index experienced the sharpest drop, and what was its closing value?
The U.S. stock index that experienced the sharpest drop was the Dow Jones Industrial Average, which fell by 1.5% to close at 39,065.26.
How did the Nikkei 225 and Hang Seng indices perform in the recent trading session, and what were their closing values?
In the recent trading session, both the Nikkei 225 and Hang Seng indices experienced a decline. The Nikkei 225 index fell by 1.2% to close at 38,623.78, while the Hang Seng index in Hong Kong dropped 0.4% to close at 18,798.89.