For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

US Markets See Sell-Off On Fears Of Further Interest Rate Hikes

|

Benchmark US indices ended the day sharply lower with the NASDAQ dropping 3 per cent, as investors sold heavily in tech stocks.

 

US Markets See Sell-Off On Fears Of Further Interest Rate Hikes
The US Jobs data which showed that the US saw 151,000 jobs in January, was below analysts expectations of gains of 190,000. However, what spooked markets was that the unemployment rate, however, fell to 4.9 percent from 5.0 percent, while wages rose 0.5 percent.

The worry was that this may prompt the US Federal Reserve to raise interest rates once again in March, especially as there was decent rise in wages.

 

The tech heavy Nasdaq composite fell 3.25 percent, with Apple, Amazon and Facebook, seeing deep cuts in trade.

The dollar rallied following the US jobs data, while the treasurys fell on the report.

GoodReturns.in

Read more about: nasdaq amazon facebook
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X