IEA Oil Release, Fed Division, and Euro Slide Hit Global Markets
IXIC sits 33% above its 52-week low of $20,690.249.
Summary
Global stocks and the euro fell Wednesday as oil held near $100 and fiscal worries lingered. U.S. stocks closed modestly lower but well off their worst levels, with the Nasdaq sliding about 0.2% after hitting a record high the prior day. Treasury yields tested multidecade highs. The IEA agreed to speed up oil stock releases, and Brent settled down 0.38% at $100.20. Fed minutes showed policymakers divided over the rationale for the last rate hike, with some citing energy shocks and others demand-driven inflation. The euro hit a 17-month low at $1.1161 as French bond spreads widened on fiscal concerns. This follows a week of oil-driven volatility and a strong jobs report that pushed Treasury yields to 24-year highs.
At the time of this announcement, IXIC was trading at $27,538.69 on NASDAQ in the Finance sector. The 52-week trading range was $20,690.25 to $27,722.75. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.