Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


By Alwyn Scott

NEW YORK (Reuters) – Global stock prices fell sharply Tuesday – after some indexes briefly touched new highs – as tumbling bond yields, lower crude prices, China’s latest tech crackdown and expectations of a hawkish Fed report on Wednesday waved red flags at investors.

With risks percolating, “it seems like the winning streak has snapped,” said Edward Moya, senior market analyst for the Americas at OANDA.

Around 1840 GMT, the Dow Jones Industrial Average was down 252.69 points, or 0.73 percent, to 34,533.66.

The broad S&P 500 index was off 16.98 points, or 0.39 percent, at 4,335.36. The tech-heavy Nasdaq Composite slipped 1.87 points, or 0.01 percent, to 14,637.46.

Bond yields also were lower as concerns about a revving global economy eased. The yield on 10-year U.S. Treasury notes was down 6.5 basis points to 1.367%.

A month ago, yields were widely expected to rise in the second half, possibly reaching 2% by year-end. Now, the consensus thinks yields may have peaked for the year. (Graphic: Oil prices and global inflation,

Oil pulled back on Tuesday from its recent rally after OPEC+ producers canceled a meeting due to clashes over plans to increase supply to meet rising global demand.

The crude spike was based largely on posturing, since suppliers are still going to increase output, Moya said. “Demand is just too strong,” he added.

Investors will watch for minutes from the U.S. Federal Reserve’s Federal Open Market Committee (FOMC), due Wednesday. The market expects them to confirm a hawkish – or anti-inflation – tilt, and a benign readout could trigger a rally.

The Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, abandoned talks Monday after the United Arab Emirates rejected an eight-month extension to output curbs. [O/R]

Some OPEC+ sources said a new meeting would take place in coming days and would lead to a boost in August.

Crude prices earlier reached $77.66 – the highest level since October 2018 – and U.S. crude hit its highest since late 2014 at $76.90 a barrel. Oil is up about 50% this year and over 385% since last year’s COVID-driven slump.


Chinese ride-hailing company Didi Global Inc shares slumped more than 20% after Chinese regulators ordered the company’s app taken down days after its $4.4 billion listing on the New York Stock Exchange.

Other U.S.-listed Chinese e-commerce firms, including Alibaba Group, Baidu Inc and, fell 3.5% to 4.6%.

Hong Kong marked its sixth day of losses and China’s CSI300 dipped to an almost two-month-low [.SS], after the Cyberspace Administration of China ordered an investigation into Didi.

China will step up supervision of Chinese firms listed offshore, and improve regulation of cross-border data flow and security, Xinhua quoted the cabinet as saying.


(Additional reporting by Marc Jones in London, Scott Murdoch in Singapore; Editing by Alison Williams, John Stonestreet, Alexander Smith and Cynthia Osterman)

Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts