Shares fall into drastic turn; Treasury yields rise

(Bloomberg) US stocks fell as Treasury bonds resumed liquidation, as traders prepare for the possibility of a more aggressive tightening of monetary policy by the Federal Reserve. The S&P 500 fell 1.5% in a dramatic change of course after rising more than 1% in the morning thanks to encouraging corporate results. The technology-weighted Nasdaq 100 fell by around 2%, with a lower performance than the major indices.

Here are some of the main movements in the markets:

Shares

• The S&P 500 fell 1.5% at 4pm New York time
• The Nasdaq 100 fell 2%
• The Dow Jones Industrial Average fell 1%
• The MSCI World index fell 1.1%

Currencies

• The Bloomberg Dollar Spot Index rose 0.4
%
• Euro fell 0.1% to $1.0839
• Pound sterling fell 0.3% to $1.3029
• Japanese yen fell 0.3% to 128.29 per dollar

Bonds

• 10-year Treasury yield advanced seven basis points to 2.90%
• Germany's 10-year bond yield advanced nine basis points to 0.95%
• Britain's 10-year bond yield rose 10 basis points to 2.01% Commodities

• West Texas Intermediate crude rose 1.5% to US$103.74 a barrel
• Gold futures posted little change

Original Note:

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