Global markets today: US stocks end mixed, European shares fall amid higher bond yields, Middle East conflict

The benchmark US treasury yield pulled back after crossing 5% on Monday. The rise in yields has been driven by a surge in government debt and supply of bonds around the world, as economic uncertainty led investors to demand a higher premium to hold longer-dated bonds.

MSCI’s gauge of equity performance across the globe gained 0.22%.

Wall Street

The US stocks ended mixed on Monday as treasury yields backed down from 5%.

The S&P 500 lost 7.31 points, or 0.17%, to end at 4,216.85 points. The Nasdaq Composite gained 35.31 points, or 0.27%, at 13,019.12. The Dow Jones Industrial Average fell 191.56 points, or 0.58%, at 32,935.72.

The 10-year treasury yield hit 5.021%, a 16-year high, but then pulled back, last trading at 4.835% on that day.

Currencies

The US dollar slipped at 149.58 Japanese yen from 149.87. The euro rose at $1.0675 from $1.0592.

Energy prices

The US crude oil benchmark for December delivery fell $2.59 at $85.49 a barrel on Monday. Brent crude for December delivery lost $2.33 at $89.83 a barrel. Natural gas for November delivery rose 3 cents at $2.93 per 1,000 cubic feet.

Europe

European shares fell on Monday, with the pan-European STOXX 600 closing 0.1% lower after decline of over 3% in the previous week.

Britain’s FTSE 100 fell 0.4% at 7,374.83 points. Germany’s DAX added 0.02% at 14,800.72. France’s CAC 40 rose 0.5% at 6,850.47.

Italy’s FTSE MIB index gained 0.7%, boosted by a 2.6% rise in UniCredit as the lender planned to buy a 9% stake in Alpha Bank. 

Among the sectoral indices, miners shed 1.1%, real estate declined 0.6%.

Asia

Asian stock markets slid on Monday.

China’s Shanghai Composite fell 1.5% at 2,939.29.

Japan’s Nikkei 225 edged down 0.8% at 30,999.55.

South Korean benchmark Kospi closed down 17.98 points, or 0.76%, at 2,357.02.

Hong Kong’s Hang Seng Index was closed for holiday.

Bullion

Gold for December delivery fell $6.60 at $1,987.80 an ounce. Silver for December delivery lost 29 cents at $23.21 an ounce.

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Updated: 24 Oct 2023, 01:45 AM IST