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Global Market Quick Take: Asia – July 7, 2023
US equities plunged lower with S&P 500 taking a look below 4,400 before a slight recovery and closing down 0.8%. NASDAQ 100 also closed lower by 0.75% with Treasury yields seeing a push above critical levels as 2-year rose above 5% in the session and 10-year closed above 4%. NFP data in the US will be the next key test today and further strength could change the setup for equities from here after markets have been on a tear after banking crisis and debt ceiling risks were overturned and AI-led rally continued to add fuel. Meta, meanwhile, gave up its early-day gains despite launching its Twitter rival app Threads ... (full story)