Daily Updates

Wall Street bounced back last night, supported by lower oil prices amid reports that Saudi Arabian oil is being shipped through the Strait of Hormuz along Oman’s coastline.

US stocks fell further last night, while US Treasury yields rose at the front end of the curve and the US dollar appreciated, in reaction to the hawkish tone set by Fed Chair Kevin Warsh at the press conference following the widely expected decision to hike the fed funds rate.

Global stock markets were a sea of red yesterday, as oil prices resumed climbing and tonight’s FOMC decision added to investor anxiety.

Wall Street declined again last night, led by information technology amid concerns over a slowdown in artificial intelligence development. These concerns were voiced over the weekend by chief executive officers of several companies developing artificial intelligence models, with a focus on ensuring public safety.

The sell-off on Wall Street came to a halt on Friday night, as global oil prices eased from their four-month highs and US CPI figures came in largely in line with market expectations.

Financial market sentiment deteriorated further overnight as a sharp rise in oil prices, driven by escalating Middle East tensions, added to inflation concerns and reinforced expectations of further monetary tightening.