Wall Street stocks fell sharply after midday today, amid anxiety over rising interest rates and as some prominent blue-chip companies tumbled after earnings reports.
Asian shares were under pressure on Wednesday, with a rise in US bond yields above the 3 percent threshold and warnings from bellwether US companies of higher costs driving fears that corporate earnings growth may peak soon.
A gauge of world stocks tumbled on Tuesday, erasing early gains as US bond yields scaled the 3 percent threshold for the first time in four years, while oil prices reversed course after climbing above the USD 75 per barrel mark.
Wall Street ended mixed on Monday as concerns about soft smartphone demand weighed on tech stocks and pulled the Nasdaq lower while earnings optimism protected against deeper losses.
Gold prices steadied in Asian trade on Tuesday, a day after falling to the lowest level in more than two weeks, as a climb in the dollar and 10-year US Treasury yields dampened the appeal of bullion, which pays no interest.
Asian stocks slipped and the US dollar advanced on Tuesday, as a deluge of US government debt this week and the spectre of inflation and a higher fiscal deficit drove US borrowing costs near four-year highs.
Asian stocks dipped on Monday as investors braced for a bevy of earnings from the world's largest corporations, while keeping a wary eye on US bond yields as they approach peaks that have triggered market spasms in the past.
For the week, both the Sensex and the Nifty managed to end with gains of over half a percent and ending the fourth consecutive week in the green, while the Bank Nifty ended over 1% lower.
The Dow Jones Industrial Average fell 202.09 points, or 0.82 percent, to 24,462.8, the S&P 500 lost 22.98 points, or 0.85 percent, to 2,670.15 and the Nasdaq Composite dropped 91.93 points, or 1.27 percent, to 7,146.13.
Wall Street's three major indexes closed lower on Thursday, with tobacco stocks leading a tumble in consumer staples while concerns about smartphone demand hurt the technology sector and rising bond yields and earnings helped financials rebound.
Asian shares slipped on Friday as a warning on smartphone demand from the world's largest contract chipmaker slugged the tech sector, while lofty oil prices stirred inflation fears and undermined sovereign bonds.
Resource stocks were on a roll in Asia on Thursday as oil prices hit heights not seen since late 2014 and ignited a rally across commodities, though the potential boost to inflation globally also put some pressure on fixed-income assets.
Resource stocks were on a roll in Asia on Thursday as oil prices hit heights not seen since late 2014, though the potential boost to inflation globally also pressured fixed-income assets.
Analysts expect S&P 500 company profits to rise 18.6 percent in the first quarter, the biggest increase in seven years, according to Thomson Reuters data.
The Dow Jones Industrial Average rose 108.75 points, or 0.44 percent, at the open to 24,681.79. The S&P 500 opened higher by 14.90 points, or 0.56 percent, at 2,692.74. The Nasdaq Composite gained 58.83 points, or 0.82 percent, to 7,215.12 at the opening bell.
Asia stocks wavered on Tuesday after data showed both hot and cold patches in the Chinese economy, but losses were limited as investors turned their focus to corporate earnings from Syria.
The rupee recovered 4 paise to 65.45 against the dollar at the interbank forex market today on fresh selling of the greenback amid a higher opening of domestic equities.
Asia stocks edged higher on Tuesday, tracking Wall Street gains as the focus shifted to corporate earnings and looming economic data from China amid signs Western-led strikes on Syria weren't likely to escalate.
The Dow Jones Industrial Average rose 212.9 points, or 0.87 percent, to 24,573.04, the S&P 500 gained 21.54 points, or 0.81 percent, to 2,677.84 and the Nasdaq Composite added 49.64 points, or 0.7 percent, to 7,156.29.
Asian share markets were mixed and oil prices fell on Monday as relief US-led strikes on Syria looked unlikely to escalate was tempered by concerns at Russia's potential reaction to new sanctions from Washington.
Initial jobless claims in the United States fell to 233,000, a decrease of 9,000 from the previous week's unrevised level of 242,000. Economists had expected jobless claims to drop to 230,000.
The Dow Jones Industrial Average fell 218.55 points, or 0.9 percent, to 24,189.45, the S&P 500 lost 14.68 points, or 0.55 percent, to 2,642.19 and the Nasdaq Composite dropped 25.28 points, or 0.36 percent, to 7,069.03.
Fears of military conflicts in the Middle East have boosted oil prices as well as safe-haven assets such as gold.
In Tokyo, the Nikkei 225 slipped below the flat line to trade lower by 0.12 percent. Financials, oil producers and shippers gained, but declines were seen in consumer goods sectors.
Crude prices rose more than 3 percent, breaking above USD 65 per barrel. Oil's strong gains boosted energy stocks. The Energy Select Sector SPDR fund (XLE) surged 3.3 percent and posted its best day since Nov. 30, 2016.