By Angus Berwick
The Fed market storm has abated somewhat.
Stock futures suggest indexes could claw back a little ground, after the Federal Reserve triggered a steep selloff Wednesday by suggesting interest rates could stay higher next year than investors expected. The S&P 500 dropped about 3%, while the Dow industrials notched a 10th straight day of declines.
On Thursday, shares in hard-hit companies like Tesla recovered some ground in premarket trading. Markets in Asia and Europe fell, though not as severely as in the U.S.
Hot on the Fed's heels, a flurry of other central-bank rate announcements are rolling in. The Bank of Japan held its policy rate, and the Bank of England is expected to do the same later today. Others, including Sweden's Riksbank, cut rates.
In recent trading:
--Futures tied to major indexes edged up less than 0.5%.
--The 10-year Treasury yield topped 4.5%. On Wednesday, it settled at 4.493%, the highest since late May.
--The Japanese yen weakened sharply following the BoJ decision, down more than 1% against the dollar.
--Bitcoin rose modestly, after briefly dipping below $100,000 yesterday.
--Benchmark stock indexes in Hong Kong, Shanghai and Tokyo all closed down less than 1%. The Stoxx Europe 600 fell a little more steeply.
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(END) Dow Jones Newswires
December 19, 2024 06:21 ET (11:21 GMT)
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