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'Sell America' has sparked a FOMO-fueled rush to gold and silver among everyday investors Business InsiderAg Markets Surge Higher Into the Weekend The Globe and MailCommodities weekly - Hard assets, hard weather: metals lead, gas shocks, cocoa cracks home.saxoAs gold and oil diverge, is it time to be precious about your portfolio? QuotedData
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How a fiery Scott Bessent calmed market nerves over Greenland CNNOn Greenland, Europe stood up, Trump blinked, and the E.U. learned a lesson The Washington PostThe West Stepped Back From the Brink. But Europe's Distrust of America Lingers. - WSJ The Wall Street JournalDenmark Owns $10 Billion in Treasuries. It Isn't Completely ‘Irrelevant.' Barron'sTrump's Turnabout on Greenland Shows the Limits of His Coercive Powers The New York Times
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If December's lows are broken during the first quarter of a new year, a bear market often follows.
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Trading desks across Wall Street have benefited in the last year as Trump's policies have roiled markets for bonds, currencies, commodities and stocks.
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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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