Wednesday, 12 October 2016

Markets fall as expectation of Fed rate hike rises

Markets mostly fell on Tuesday.

The S&P 500 fell 1.2 percent and the STOXX Europe 600 fell 0.5 percent.

US 10-year Treasury yields rose five basis points to 1.76 percent as odds on a Federal Reserve rate hike before the end of the year rose to 67 percent, up seven percentage points from a month ago.

Earlier on Tuesday, Asian markets were mixed.

The Nikkei 225 rose one percent and the Shanghai Composite rose 0.6 percent.

However, the KOSPI fell 1.2 percent, dragged down by an eight percent plunge in Samsung Electronics after the latter halted sales of its Galaxy Note 7 mobile phone, while the Hang Seng fell 1.3 percent, with developers hit by measures in some Chinese cities to cool property prices.

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