US Futures, European Stocks Slip After Series of Central Bank Rate Hikes

In the U.S. futures for the S&P 500 were down 0.3% and futures for the Dow Jones Industrial Average declined 0.2%. Changes in futures don’t necessarily predict movements after the opening bell.

In Europe, the Stoxx Europe 600 fell 0.2% in morning trading. Evotec added 4.3% and GSK rose 3.4%. On the other hand, Siemens Energy slipped 29.9%, and Samhaellsbyggnadsbolaget lost 16.8%. The FTSE 100 lost 0.3%. Other stocks in Europe were down as France’s CAC 40 decreased 0.3% and Germany’s DAX dropped 0.6%.

The Wall Street Journal Dollar Index climbed 0.5% to 97.32.

In commodities, Brent crude dropped 1.1% to $73.53 a barrel, and WTI crude dropped 1.2% to $68.70 a barrel.

The German 10-year Bund yield declined by 14.3 basis points to 2.358% from 2.501%, and the yield on the 10-year U.S. Treasury fell by 5.5 basis points to 3.742% from 3.797%. Bond prices and yields move in opposite directions.

Stocks in Asia were down as Japan’s Nikkei 225 index fell 1.5%, whereas Hong Kong’s Hang Seng declined 1.2%. Markets in China were closed.

Source: Dow Jones Newswires


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