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Korean Stocks to Bounce, US Inflation Fears Ease: Markets Wrap Bloomberg.comSouth Korea stocks crashed 18% in two days. Could it happen here? CNBCAsian Equities Rebound as Risk Appetite Improves WSJIsrael Iran News Everyone Is Watching Strait Of Hormuz. The Real Warning Is Coming from Korea NDTV
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The conflict in Iran has sent global oil prices surging, but not every market has been impacted to the same degree.
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ADP said businesses created 63,000 new jobs in February — the biggest increase in seven months — in another sign that a sluggish U.S. labor market might be slightly perking up.
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Stocks in Asia tumbled on Wednesday, led by sharp declines in South Korea, but markets in Europe and the United States appeared to stabilize after days of turmoil.
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The effective closure of the Strait of Hormuz is "about as wrong as things could go" for global oil markets. Iran achieved it not with a naval blockade, but with cheap drones.
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Six business models piloted in Asia offer lessons for global leaders in any market—and just might be the key to the next wave of sustainable growth.
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Wednesday's selling carried into Thursday as investors continued to take a risk-off approach to markets following the Federal Reserve's latest policy announcement.
The central bank issued its third jumbo-sized rate increase yesterday and set expectations that it will continue to hike rates over its next few meetings. However, the Fed is not alone in its aggressive stance. Several global central banks have increased their benchmark rates this week in an ongoing effort to tame inflation, including the Bank of England and Switzerland's National Bank, which earlier today issued 50 basis point and 75 basis point rate hikes, respectively. (A basis point is one one-hundredth of a percentage point.)
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"Global equities are struggling as the world anticipates surging rates will trigger a much sooner and possibly severe global recession," says Edward Moya, senior market strategist at currency data provider OANDA. "Most of these rate hikes around the world are not done yet which means the race to restrictive territory won't be over until closer to the end of the year."
The reaction here at home was a selloff in bond prices, which sent yields on government notes spiking. The 10-year Treasury yield surged 19.2 basis points to 3.704% - its highest level since early 2011 - while the 2-year Treasury yield spiked 12.1 basis points to 4.116%, its loftiest perch since late 2007.
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As for stocks, the tech-heavy Nasdaq Composite
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