New York stocks plunge, dollar strengthens; Nasdaq 4% lower, gold 3% lower
As expectations for a Federal Reserve rate hike grew on strength in the U.S. labor market, New York stocks plunged on . The Nasdaq fell 5%, while international gold prices dropped 4%, giving back part of this year’s gains.3.
As expectations for a Federal Reserve (Fed) rate hike grew on strength in the U.S. labor market, New York stocks plunged on 5. Stocks, bonds, and gold all fell. The dollar strengthened against major currencies.
The Nasdaq fell 4%. Technology stocks recorded the steepest declines. Stock-market volatility expanded over a short period.
International gold prices fell 3%. They gave back part of this year’s gains. Both spot and futures gold prices declined.
In the bond market, prices fell. As a result, yields rose overall. Movements were observed across both short- and long-term maturities.
This shift occurred following employment data released on 5day. The data signaled that employment conditions were better than expected. The market readjusted positions to reflect the Federal Reserve’s future interest-rate direction.
Major economic indicators released in the future, statements from the Federal Reserve, and interest-rate communications are expected to become factors behind further movements in stock prices, the won-dollar exchange rate, and gold prices. Investors should check the release schedule and market reaction.
Sources: 연합뉴스 경제
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