Nasdaq Slides 0.8% as Oil Surge and Bond Rout Deepen Market Selloff
IXIC sits 27% above its 52-week low of $20,690.249 on light trading volume (0.3× avg).
Summary
The Nasdaq is down 220.74 points (0.8%) at 26,150.15 in Tuesday's session, extending losses from the prior two days. Crude oil is up another 2.6% after a 3% surge Monday, fueling inflation fears and pushing the 10-year Treasury yield to its highest since January 2025. The ISM manufacturing PMI came in at 54.6, below the 55.2 expected, briefly sparking a recovery attempt before selling resumed. This follows Monday's 2.8% oil spike and Tuesday's earlier futures slump of 1.2%. Traders are now focused on Friday's jobs report for clues on whether the Fed will hike rates later this month. The global bond selloff has intensified as investors brace for rate hikes.
At the time of this announcement, IXIC was trading at $26,201.93 on NASDAQ in the Finance sector. The 52-week trading range was $20,690.25 to $27,190.21. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: dpa-AFX.