Nasdaq 100 Tumbles as Yellen Feedback About Price Hikes, Hold Seng and ASX 200 Could Fall
NASDAQ 100, HANG SENG, ASX 200 INDEX OUTLOOK:
- Dow Jones, S&P 500 and Nasdaq 100 closed +0.06%, -0.67% and -1.85% respectively
- Janet Yellen’s rate of interest feedback sparked recent tapering fears, boosting the US Dollar
- Futures in Australia and Hong Kong are positioned for losses following a bitter Wall Road lead
Tech Pullback, Janet Yellen, USD, Asia-Pacific at Open:
Nasdaq 100 index fell 1.85% on Tuesday as profit-taking ramped up on recent tapering fears. US Treasury Secretary Janet Yellen stated rates of interest could should rise reasonably to maintain the economic system from overheating. Her phrases echoed feedback from Dallas Fed president Robert Kaplan on the finish of final week, who stated it’s time to begin debating a discount in bond purchases amid indicators of extreme risk-taking.
Though Fed Chair Jerome Powell reiterated that present financial coverage is suitable and inflation stress could also be transitory, a slew of strong financial information ignited tapering speculations not too long ago. The central financial institution…