Close
x
  • SMC open account icon Open an A/C
    • Open an A/C
    • CHOOSE YOUR OPTION(S)
    • Trading A/c
    • Mutual Fund A/c
    • NBFC A/c
    • NPS A/c

Budget News

  • US Market tumbles on inflation fears
  • February 26,2021  11:51
  • The US stocks suffered heavy losses on Thursday, 25 February 2021, dragging the broader Nasdaq, the S&P 500 and the Dow indexes all deep into the sea of red territory, as a continued increase in treasury yields, which led to renewed concerns about interest rates and related inflation.

    At the close of trade, the Dow Jones Industrial Average index declined 559.85 points, or 1.75%, to 31,402.01. The S&P500 index dropped 96.09 points, or 2.45%, to 3,829.34. The tech-heavy Nasdaq Composite Index sank 478.54 points, or 3.52%, to 13,119.43.

    US Treasury yields vaulted to their highest since the pandemic began on expectations of a strong economic expansion and related inflation. Yields took off with startling speed on Thursday, with the rate on 10-year Treasuries at one point reaching 1.61%, the highest in a year. In a telltale warning sign for some strategists, the 5-year Treasury yield soared convincingly above 0.75%, a crucial level that was expected to exacerbate selling, as traders pulled forward bets on when the Federal Reserve will start lifting policy rates. The 10-year U.S. real yield -- which strips out inflation and is seen as a pure read on growth prospects -- climbed as much as 25 basis points to a level last seen in June.

    The increase in yields came following the release of a batch of largely upbeat U.S. economic data, including a report from the Labor Department showing a steep drop in first-time claims for U.S. unemployment benefits in the week ended February 20th. The Labor Department said initial jobless claims tumbled to 730,000, a decrease of 111,000 from the previous week's revised level of 841,000.

    The Commerce Department also released a report showing new orders for U.S. manufactured durable goods spiked by much more than expected in the month of January. The report said durable goods orders soared by 3.4% in January after jumping by an upwardly revised 1.2% in December.

    A separate report released by the Commerce Department showed U.S. gross domestic product jumped by slightly more than originally estimated in the fourth quarter of 2020. The Commerce Department said GDP surged up by 4.1% in the fourth quarter compared to the previously reported 4% spike.

    Powered by Capital Market - Live News

Top News
Economy News

Follow us:

  • fb icon
  • Twitter icon
  • Linkedin
  • you tube

Disclaimer: Investment in securities and commodities market are subject to market risks, read all the related documents carefully before investing. SMC Global Securities Ltd. (CIN : U67120DL1997PLC188881): NSE INB/ INF/INE 230771431, BSE INB/INF 011343937, MSEI INB/INF 260771432, CDSL/NSDL-IN-DP-130-2015, SMC Research Analyst Registration- INH 100001849 I SMC Global Securities Ltd.: NCDEX/MCX (8200)/ NMCE/ICEX-INZ000035839 I SMC Global Securities Ltd.: PMS INP000003435 I SMC Insurance Brokers Pvt. Ltd., IRDAI Regi: No: DB 272/04, License No. 289 Valid from 28-01-2020 to 27-01-2023 I Registered Office: 11/6B, Shanti Chamber, Pusa Road, New Delhi-110005, Tel.: (011) 30111000. For any complaints email – igc@smcindiaonline.com, website: www.smctradeonline.com

The Stock Exchange, Mumbai is not in any manner answerable, responsible or liable to any person or persons for any acts of omission or commission, errors, mistakes and/or violation, actual or perceived, by us or our partners, agents, associates etc., of any of the Rules, Regulations, Bye-laws of the Stock Exchange, Mumbai, SEBI Act or any other laws in force from time to time.

The Stock Exchange, Mumbai is not answerable, responsible or liable for any information on this Website or for any services rendered by our employees, our servants, and us.

Insurance is the subject matter of solicitation • All insurance products sold through SMC Insurance Brokers Pvt. Ltd. • Investment Banking Services provided by SMC Capitals Ltd. • Equity PMS and Wealth management services provided by SMC Global Securities Ltd. • IPOs and Mutual Funds distribution services are provided by SMC Global Securities Ltd. • Financing Services provided by Moneywise Financial Services Pvt Ltd. • Commodity broking services provided by SMC Global Securities Ltd. • Real Estate Advisory services are offered through SMC Real Estate Advisors Pvt. Ltd.

OUR OTHER WEBSITES Go
IMPORTANT LINKS Go
QUICK LINKS
Go

Toll-free : 1800-11-0909
Email: contact@smctradeonline.com

Sitemap
Plus Minus 
Copyright ©2016 SMC. All Rights Reserved | Disclaimer | Privacy Policy | RMS Policy | Copyright| Testimonials| Sitemap| Grievance| design agency: triverse| Powered by C-MOTS Infotech (ISO 9001:2015 certified)
Open An Account

Open my trading account now!  X 

* All fields are compulsory